Am I correct in assuming that the fact that my solicitor in St Clears is not listed on my lender's solicitor panel that there is a problem with the standard of the firm’s work?
That is most likely an incorrect assumption to make. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the St Clears conveyancing firm and enquire why they are no longer on the approved list for your lender.
What does my ID and proof of funds have anything to do with my conveyancing in St Clears? What am I being asked for?
St Clears conveyancing solicitors as well as nationwide property practitioners throughout the UK have a duty under Anti-terror and anti-money-laundering rules to verify the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and evidence of address (usually a Bank Statement less than 3 months old).
Evidence of source of monies is also required in compliance with the money laundering regulations as solicitors are obliged to ensure that the money you are using to purchase a property (be it the exchange deposit or the full purchase monies if you are a cash purchaser) has originated from an acceptable source (such as an inheritance) rather than the product of criminal behaviour.
Do the Building Society Association intend to launch a online directory to to identify firms on the Norwich and Peterborough Building Society conveyancing panel for instance in St Clears?
We would not expect to be advised of any intention on the part of the BSA to promote such a tool.
My colleague advised me that where I am purchasing in St Clears I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard St Clears conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about St Clears around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, St Clears Education with maps and statistics, Local Amenities and other useful information regarding St Clears.
What does commercial conveyancing in St Clears cover?
St Clears conveyancing for business premises incorporates a wide array of advice, offered by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
We are hoping to buy a four bedroom first floor flatin St Clears with a residential mortgage from a lender. We have selected a solicitor in St Clears but our mortgage company inform us now that he's not on their "panel". Apparently we need to choose one of the our bank panel solicitors or keep our St Clears conveyancer and incur the extra legals for one of their panel ones to represent our bank. We feel as though this is unjust; Can we not simply insist that our lender use our St Clears lawyer?
No, not really. The bank mortgage issued is subject to its terms and conditions, one of which will be that solicitors will on the bank's conveyancing panel. Until recently, most banks had large numbers of law firms on their panels, including almost all conveyancing solicitors in St Clears : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for your lender.