I am in the process of selling my ground floor flat in Maryport and the estate agent has just e-mailed to advise that the purchasers are switching solicitor. I am told that this is due to the fact that the lender will only deal with solicitors on their conveyancing panel. On what basis would a big named lender only work with specific solicitors rather the firm that they want to choose for their conveyancing in Maryport ?

Banks have always had an approved set of law firms that can act for them, but in the last few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.

Banks blame a rise in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any sway in the decision.

In what way does my ID and proof of funds have anything to do with my conveyancing in Maryport? Is this really necessary?

Maryport conveyancing solicitors as well as nationwide property lawyers throughout the UK have an obligation under money laundering regulations to check the ID of any client with a view to satisfy themselves that clients are who they say they are.

Conveyancing clients are required to disclose two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and evidence of address (usually a Bank Statement less than 3 months old).

Confirmation of the origin of funds is also necessary in compliance with the money laundering laws as conveyancers are duty bound to check that the monies you are utilising to buy a property (be it the exchange deposit or the full purchase monies where you are buying without a mortgage) has originated from a reputable source (such as employment savings) and is not the product of illegitimate activity.

My brother-in-law has suggested I instruct a conveyancing solicitor in Maryport. I I am struggling to find out whether they are accepted on the Barclays approved list of lawyers. Could you or the lender confirm if they are on the panel?

You should contact the solicitor and ask them whether they can act for the lender. Otherwise you should call Barclays who may be able to confirm.

I need some fast conveyancing in Maryport as I am faced with pressure to complete within 2 weeks. A home loan is not required. Can I escape the need for conveyancing searches to save money and time?

If.Given you are are a cash purchaser you are at free not to have searches carried out although no law firm would advise that you don't. With lots of history conveyancing in Maryport the following are examples of what can be revealed and adversely affect future mortgageability: Enforcement Actions, Overdue Fees, Overdue Grants, Road Schemes,...

Over the last few months I have been searching for a flat up to £235,500 and identified one close by in Maryport I like with open areas and transport links in the vicinity, however it only has 49 years on the lease. There is not much else in Maryport in this price bracket, so just wondered if I would be making a grave error buying a short lease?

Should you need a mortgage that many years will likely be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.