We are planning to purchase a 2 bedroom apartment in Ormesby with a mortgage. We like our Ormesby conveyancer, but the lender says she’s not on their "panel". It appears that we have no option but to instruct one of the bank panel solicitors or retain our Ormesby solicitor and pay for one of their panel firms to act for them. This seems very unfair; is there anything we can do?

Unfortunately,no. Your mortgage offer 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. Another option that might be available is for your Ormesby conveyancing solicitor to apply to be on the conveyancing panel.

In what way does my ID and proof of funds have anything to do with my conveyancing in Ormesby? What am I being asked for?

Ormesby conveyancing solicitors and indeed property practitioners throughout the UK have a duty under money laundering regulations to verify the identity of any client in order to ensure that clients are who they say they are.

Conveyancing clients are required to provide two forms of certified identification; proof of ID (usually a Passport or Driving Licence) and evidence of address (usually a Bank Statement no older than three months).

Proof of the origin of monies is also required under the money laundering laws as solicitors are duty bound to investigate that the funds you are utilising to acquire a property (whether it be the deposit for exchange or the total purchase price where you are a cash purchaser) has come from an acceptable source (such as an inheritance) and is not the fruits of criminal activity.

Are the BSA planning on creating a search tool with a view to list practices on the Norwich and Peterborough Building Society conveyancing panel for example in Ormesby?

We are not aware of any intention on the part of the BSA to develop such a tool.

How does conveyancing in Ormesby differ for new build properties?

Most buyers of new build residence in Ormesby approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Ormesby usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Ormesby or who has acted in the same development.

I opted to have a survey completed on a house in Ormesby ahead of instructing lawyers. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some mortgage companies will not give a mortgage on such a property.

It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ormesby. Conveyancing will be smoother if you use a solicitor in Ormesby especially if they are familiar with such properties in Ormesby.