I plan on buying a maisonette in Maghull. My Solicitor is not listed on the lender conveyancing panel. Can I still continue with my Maghull conveyancing solicitor even though they are not on the lender panel?
You will need to use a conveyancer to complete the formalities if you need a mortgage to purchase your home. The property lawyer will carry out all the appropriate investigations on the property, make sure that you will be properly registered as the owner and ensure that all the required mortgage paperwork is in order. You can select a Maghull lawyer of your choice. Nevertheless, if the property lawyer selected is not on the bank approved list supplemental charges will arise as separate legal representation will be required by them. Lender panel applications may be submitted, so where your lawyer has not in the past applied for membership they should take the chance to apply.
What does my ID and proof of funds have anything to do with my conveyancing in Maghull? What am I being asked for?
In order to comply with Money Laundering Regulations any Maghull conveyancing firm will require proof of identity in all conveyancing matters. This is usually dealt with by provision of a passport and an original bank statement or utility bill evidencing where you live.
In accordance with Money Laundering Regulations, conveyancing solicitors are required to check not only the identity of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this will result in your conveyancer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to inform the appropriate authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
My wife and I are buying a property in Maghull. It might be a silly question but how we can trust a solicitor? On completion day we will need to deposit our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
What is the difference between a licensed conveyancer and conveyancing solicitor in Maghull
There are two types of lawyers who can execute conveyancing in Maghull namely CLC regulated conveyancers or solicitors. Both professionals provide the legal services that you need to complete the sale or purchase of property. Both are obliged to carry out Maghull conveyancing to the same standards and guidelines so you may be safe in the knowledge that your conveyancing will be properly administered and that all requisite procedures will be appropriately adhered to.
Intending to buy a maisonette in Maghull. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Principality conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Maghull conveyancing practitioner is on the Principality conveyancing panel.
Should I choose a Maghull conveyancing practitioner based in the area that I am purchasing? I have an old university friend who can carry out the conveyancing but her office is 400miles drive away.
The primary upside of using a local Maghull conveyancing practice is that you can pop in to sign paperwork, deliver your ID and apply pressure on them where appropriate. They will also have local intelligence which is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If other friends have used your friend and in the main were content that should trump using an unfamiliar Maghull conveyancing lawyer solely due to them being local.
My wife and I have chosen a Maghull conveyancing solicitor for our house purchase (FTB’s) and have noticed in the engagement letter that they are not regulated by the Financial Conduct Authority. Need I be worried or is that standard with lawyer?
We can't see why they should be. Most property lawyer don't lend money. You should check that they are governed by the SRA, who set stringent stipulations covering amounts held by them.