Am I correct in assuming that the fact that my conveyancer in Aldersgate is not listed on my bank's solicitor panel that there is a problem with the quality of her conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters 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 Aldersgate conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
Please help. My Aldersgate lawyer is advising me that she is duty bound toconduct Aldersgate conveyancing searches becausethe firm are on the Lloydssolicitor panel. Is my lawyer correct?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a home loan with a bank your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Aldersgate conveyancing searches.
In what way does my ID and proof of funds have anything to do with my conveyancing in Aldersgate? Why is this being asked of me?
Aldersgate conveyancing solicitors and indeed property practitioners throughout the UK have a duty under Anti-terror and anti-money-laundering rules to check the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to provide two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and proof of address (typically a Utility Bill less than 3 months old).
Proof of the origin of funds is also required in compliance with the money laundering regulations as solicitors have a duty to investigate that the monies you are using to buy a property (be it the exchange deposit or the full purchase amount if you are a cash purchaser) has originated from a reputable source (such as an inheritance) and is not the fruits of illegitimate activity.
Are the BSA intent on creating a online directory to to identify firms on the Loughborough BS conveyancing panel for instance in Aldersgate?
We would not expect to be advised of any intention on the part of the BSA to develop such a register.
How do I search for a Aldersgate solicitor on the Lloyds TSB Bank conveyancing panel? I drive a motor bike and am willing to travel upto 25kilometers to meet the solicitor.
Feel free to make use of the tool on this page. Please choose the lender and your location and you will see a number of Aldersgate conveyancing lawyers located nearest you. We have detailed some Aldersgate conveyancing firms at the bottom of this page and you can telephone them to see whether they are on the Lloyds TSB Bank panel