I am progressing with the sale of my maisonette in Pratt's Bottom and the EA has just text me to say that the purchasers are switching law firm. I am told that this is due to the fact that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a big named mortgage company only work with certain lawyers rather the firm that they want to choose to handle their conveyancing in Pratt's Bottom ?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lending institutions point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any impact on this.
My husband and I intend to remortgage our flat in Pratt's Bottom with Clydesdale. We have a son 19 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this document specific to the Clydesdale conveyancing panel as he never had to sign this form when we bought 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Clydesdale conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Clydesdale. This is solely used to protect Clydesdale if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Clydesdale had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
What does my ID and proof of funds have anything to do with my conveyancing in Pratt's Bottom? Is this really necessary?
To satisfy the Money Laundering Regulations any Pratt's Bottom conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility bill showing your correct address.
In accordance with Money Laundering Regulations, property lawyers are required to check not only the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. An unwillingness to disclose this will lead to your lawyer terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to notify the relevant authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
I understand that there are debates on Chancel Insurance on online forums. Do I require this when buying a house in Pratt's Bottom? or I am told that there is a law dating back centuries that means some owners of property residing in a parish church boundary will be compelled to pay for maintenance to the chancel within the church. Is this relevant for conveyancing in Pratt's Bottom?
Unless a prior purchase of the house completed post 12 October 2013 you may expect solicitors carrying out conveyancing in Pratt's Bottom to remain encouraging a chancel search and or insurance against a claim.
I used Arc property Solicitors a few years past for my conveyancing in Pratt's Bottom. I now require my papers but cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Pratt's Bottom of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a conveyancing solicitor in Pratt's Bottom for my remortgage. Is it possible to check a solicitor's record with the legal regulator?
One may see presented Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Go to Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The SRA sometimes monitor telephone calls for training purposes.