Me and my fiance are hoping to buy a 2 bedroom apartment in Trearddur Bay with a mortgage. We like our Trearddur Bay conveyancer, but the bank advise he's not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our Trearddur Bay lawyer and pay for one of their panel lawyers to act for them. We regard this is inequitable; are we not able to demand that the bank use our Trearddur Bay lawyer ?
Unfortunately,no. Your mortgage offer 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. Another option that might be available is for your Trearddur Bay conveyancing lawyer to apply to be on the conveyancing panel.
My partner and I are getting closer to an exchange on a house in Trearddur Bay and my mum and dad have sent the ten percent deposit to my conveyancer. I am now told that as the deposit has been sent from someone other than me my solicitor needs to make a notification to my bank. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the bank concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
Your property lawyer is obliged to clarify with the bank to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your bank if you agree, failing which, your lawyer must cease to continue acting.
What does my ID and proof of funds have anything to do with my conveyancing in Trearddur Bay? Is this really necessary?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to check the identity of the potential client they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms and Conditions that you need to sign should confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. If you are unwilling to supply ID verification documents, your solicitor would not be able to act for you.
I am close to exchanging contracts on the sale of our home in Trearddur Bay and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any high street Trearddur Bay lawyer would know this is not the case. It does beg the question why the buyers are using a factory type conveyancing outfit as opposed to a conveyancing solicitor in Trearddur Bay. Having lived in Trearddur Bay for three years we know of no issue. Is it a good idea to get in touch with our local Authority to seek clarification that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer already. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I used Arc property Solicitors a few years past for my conveyancing in Trearddur Bay. Now, I need the documents however the law firm has closed. What do I do?
You should contact 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 Trearddur Bay of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I note that you have a search directory listing law firms on the mortgage company conveyancing panel. Do Trearddur Bay conveyancing firms pay you a commission if I retain them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the lender conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Trearddur Bay.