I am progressing with the sale of my house in Warkworth and the estate agent has just e-mailed to say that the buyers are changing their solicitor. I am told that this is due to the fact that the lender will only deal with solicitors on their approved list. On what basis would a major mortgage company only work with specific law firms rather the firm that they want to select to handle their conveyancing in Warkworth ?
Banks have always had panels of law firms they are willing to work with, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Lending institutions blame a rise in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
In what way does my ID and proof of funds have anything to do with my conveyancing in Warkworth? What am I being asked for?
Warkworth conveyancing solicitors as well as nationwide property practitioners throughout the UK have a duty under money laundering regulations to check the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and evidence of address (usually a Utility Bill less than 3 months old).
Proof of source of monies is also required in compliance with the money laundering regulations as conveyancers are obliged to ensure that the monies you are using to purchase a property (whether it be the deposit for exchange or the full purchase price if you are buying without a mortgage) has come from legitimate source (such as employment savings) as opposed to the proceeds of illegitimate behaviour.
My uncle passed away 10 months ago and as sole heir and executor I was left the property in Warkworth. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Leeds Building Society, pay off the mortgage. Is this possible?
Where you plan to refinance then Leeds Building Society will require that you use a conveyancer on the Leeds Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Leeds Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Leeds Building Society mortgage is registered as a charge at the Land Registry.
I used Stirling Law several years ago for my conveyancing in Warkworth. Now, I need the files however cannot find the solicitor. 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 Warkworth 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've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a simple, chain free conveyancing. Warkworth is where the house is located. Is there any guidance you can impart?
Flying freeholds in Warkworth are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Warkworth you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Warkworth may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am thinking of appointing a conveyancing lawyer in Warkworth for my house move. Is there any facility to check a solicitor's complaints history with the profession’s regulator?
You may read published Solicitor Regulator Association (SRA) decisions arising from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find records Pre 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The regulator sometimes recorded telephone calls for training reasons.