Recently been in touch with my conveyancing solicitor in Hednesford who acted for me two years ago requesting a conveyancing costs illustration based on an identical type of house move (a leasehold residence and a freehold property) of similar values with a loan from Barclays Direct. I am now being charged twice the amount. Should I look for an alternative conveyancer?
The estimate does seem a tad on the high side. If you are happy to expend time comparing charges you may be able to get the conveyancing a bit cheaper by say £100 plus VAT. On the other hand, if you were satisfied with the service the firm offered you maylive to rue opting for an a cheaper solicitor. Remember to check that the conveyancer can act for Barclays Direct. You can employ our search tool to select a Hednesford conveyancing firm on the Barclays Direct conveyancing panel, which can often include conveyancing solicitors in Hednesford.
In what way does my ID and proof of funds have anything to do with my conveyancing in Hednesford? Why is this being asked of me?
Hednesford conveyancing solicitors and indeed property practitioners accross the UK have a duty under Anti-terror and anti-money-laundering rules to check the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and proof of address (typically a Utility Bill no older than three months).
Proof of source of funds is also required under the money laundering laws as conveyancers have a duty to investigate that the funds you are utilising to buy a property (whether it be the deposit for exchange or the full purchase price where you are buying mortgage free) has come from an acceptable source (such as employment savings) rather than the fruits of criminal activity.
Our mortgage company has recommended a law firm on their panel based in Hednesford but I would rather instruct a conveyancing lawyer in Hednesford round the corner to me. Are you able to assist?
Far from all Hednesford conveyancing solicitors are on all banks conveyancing panel. Please make the most of the above find an approved solicitor tool to locate a Hednesford conveyancing firm on the on the mortgage company panel.
Should I be concerned about 3rd parties that I am dealing with are recommending a factory type conveyancing firm rather than a High Street Hednesford conveyancing company?
As is the case with many service providers, often suggestions from relatives can be worth their weight in gold. Nevertheless there are many parties with a keen interest in a conveyancing deal; estate agents, financial adviser and lenders may put forward conveyancers to retain. Sometimes these conveyancers might be known to one of the organisations as being good in their field, but sometimes there may be a commercial relationship behind the endorsement. You are free to appoint your own conveyancer. You need to be aware that most banks have an approved list of solicitors you are obliged to use for the lender aspect of your conveyancing.
My wife and I are acquiring a garden flat in Hednesford. When we first instructed conveyancing practitioner, they told us that they were on all major UK bank panels. Our mortgage broker emailed today to advise that they are not on the Lloyds approved list. Should that be true, what should we do? Should we just choose a different property lawyer that is on their panel or should we cover the costs for separate representation, with Lloyds appointing their own preferred property lawyer.
Where you are acquiring a property with the assistance of a mortgage it is usual for the buyer’s lawyers to also represent the purchaser's lender. In order to act for a bank or building society a property lawyer has to be on that lender's conveyancing panel. An application has to be made by the lawyer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the property lawyer has to satisfy. Some banks now insist their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your conveyancing practitioner should contact Lloyds and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on Lloyds's conveyancing panel as you are at liberty to use your preferred Hednesford lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another conveyancing practitioner into the mix.