I am not in a position to travel far from Menai Bridge. What is the rationale as to why all Menai Bridge solicitors are not on all bank panels?

A decade ago most banks had an approach to risk which differs from the current day. The Financial Services Authority in 2010 conducted a thematic review into fraud which in summary warned lenders: know the conveyancers on your panel. As a result, mortgage companies have subsequently requiredmore data from law firms about their processes and the staff employed by them and set certain criteria such as completing a minimum amount of transactions. Many law practices have been excluded from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the minimum amount of transactions the lenders set.

The Menai Bridge conveyancing firm handling our Menai Bridge conveyancing has uncovered a difference between the assumptions in the home valuation report and what is in the conveyancing documents. My solicitor informs me that he needs to ensure that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s stance right?

Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.

Do I need to pop into the offices of the solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Menai Bridge so that I can pop in to their offices if necessary.

As opposed to 12 years ago, the vast majority banks no longer need their conveyancing panel lawyer to witness the mortgagors signature. It will still be necessary for you to provide identification documents and there are still distinct benefits to choosing a local ayer, in your case a conveyancing solicitor in Menai Bridge.

I'm purchasing a new build house in Menai Bridge with a loan from Birmingham Midshires. The sellers would not budge the price so I negotiated five thousand pounds worth of additionals instead. The property agent advised me not inform my conveyancer about the deal as it could jeopardize my loan with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Me and my wife have agreed a price on a Menai Bridge house we inherited some years ago in 2010. I have over 15 years conveyancing knowledge and, now retired, see no reason not to conduct the conveyancing. The buyer's conveyancing practitioner has informed me that their Lenders will not allow you to do your own conveyancing as they require the funds to be transferred to a solicitor's bank account.

Mortgage instructions to property lawyers from all mainstream lenders specify that If the vendor does not have legal representation the purchaser’s lawyers should check whether the lender needs to be notified so that a decision can be reached as to whether or not they are willing to move forward.