Me and my partner are intending to purchase a 2 bedroom flat in Hambleton with a mortgage. We like our Hambleton lawyer, however the bank says she’s not on their "panel". We have to appoint one of the bank panel conveyancing practices or continue with our Hambleton conveyancing practitioner and pay for one of their panel lawyers to represent them. We regard this is inequitable; can we not demand that the mortgage company use our Hambleton lawyer ?
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 lender’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 Hambleton conveyancing lawyer to apply to be on the conveyancing panel.
What does my ID and proof of funds have anything to do with my conveyancing in Hambleton? What am I being asked for?
In order to comply with Money Laundering Regulations any Hambleton 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 account showing your correct address.
Under Money Laundering Regulations, conveyancing solicitors are duty bound to check not simply the ID of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this will lead to your conveyancer ending their relationship 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 appropriate authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
The Hambleton conveyancing solicitors that just started acting on my purchase in Hambleton have without warning closed. I chose them because I needed a solicitor on the TSB conveyancing panel and my family Hambleton lawyer was not. I paid them £170 in advance. What should be my next steps?
If you have an estate agent involved then let them know straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the TSB conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
There is lots of information on this site regarding conveyancing in Hambleton but what is your top tip for appointing the right conveyancer in Hambleton
We would encourage you not to go for the cheapest Hambleton conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We are getting the release of further monies on our mortgage from Lloyds as we wish to carry out renovations to our home in Hambleton. Are we obliged to choose a high street Hambleton solicitor on the Lloyds conveyancing panel to deal with the paperwork?
Lloyds don't usually require firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Lloyds conveyancing panel.
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Hambleton bank branch on various occasions and was reassured it wasn't a problem and they would lend. My Hambleton conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they will not lend based on their published requirements. Who do I believe?
Your solicitor must comply with the CML Handbook section two requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I'm refinancing my existing house to a BTL mortgage with National Westminster Bank and intend to use the remaining equity as a down payment on a second property. The neighborhood we are looking at is Hambleton. Will your lawyers be able to act for the two lenders and tie in the conveyances?
Make use of our comparison tool on this site to check that the solicitors are on the relevant lender panels. Having checked that they are the lawyer should be able to connect the two conveyancing matters but you should talk with you lawyer and make apparent your desired outcome and requirements.