We are purchasing a 3 bedroom apartment in Strawberry Hill with a mortgage. We have a Strawberry Hill lawyer, however the mortgage company says she’s not on their "panel". We have to appoint one of the lender panel firms or retain our Strawberry Hill conveyancer as well as pay for one of their panel firms to act for them. This feels very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: 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 Strawberry Hill conveyancing lawyer to apply to be on the conveyancing panel.
In what way does my ID and proof of funds have anything to do with my conveyancing in Strawberry Hill? What am I being asked for?
In order to comply with Money Laundering Regulations any Strawberry Hill conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility bill evidencing where you live.
Under Money Laundering Regulations, conveyancing solicitors are required to validate not simply the ID of conveyancing clients but also the origin of fund that they receive in respect of any matter. Refusal to disclose this may lead to your lawyer cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to notify the relevant authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
Is it the case that all Strawberry Hill CQS (Conveyancing Quality Scheme) solicitors are on the Co-operative conveyancing list of approved solicitors?
A selection of lenders now use the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
We expect to receive a OIP from Clydesdale this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Clydesdale recommend any Strawberry Hill solicitors on the Clydesdale conveyancing panel, or is it better to go independently?
You will need to appoint Strawberry Hill solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
Our sealed bid on a property in Strawberry Hill has been agreed to, the owners do however have a dependent purchase. The vendors have put an offer on somewhere, however it’s not been accepted yet, and have viewings of other properties booked. I have selected a bricks and mortar conveyancing solicitor in Strawberry Hill. What should be my next step? At what point should I apply for the mortgage with Nationwide?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then valuation, Strawberry Hill conveyancing search charges, etc). First, you must ensure that your conveyancing practitioner is on the Nationwide conveyancing panel. As to the subsequent stages this very much depends on the circumstances of your case, motivation for this property and on the state of the market. During a buoyant market some purchasers will apply for the mortgage with Nationwide and pay for the valuation and only if it was satisfactory would they ask their conveyancer to proceed with the conveyancing in Strawberry Hill.
It has been five months following my purchase conveyancing in Strawberry Hill concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey completed on a property in Strawberry Hill ahead of retaining conveyancers. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some lenders may refuse to give a loan on a flying freehold home.
It varies from the lender to lender. Lloyds has different requirements for example to Halifax. Should you wish to telephone us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Strawberry Hill. Conveyancing may be slightly more expensive based on your lender's requirements.
Is it simple use your search tool to choose a conveyancing practitioner in Strawberry Hill on the panel for my bank?
1st choose a bank such as Birmingham Midshires, Bank of Scotland or Clydesdale then type in your preferred area such as Strawberry Hill. Conveyancing firms in Strawberry Hill and nationally will then be identified.