Unfortunately I am unable to travel far from Swansea. What is the rationale as to why all Swansea property lawyers aren't automatically on all bank panels?
Pre- 2008 most lenders had an approach to risk which differs from the current day. The Financial Services Authority in 2010 conducted a thematic review into property fraud which concluded: know the lawyers on your panel. Accordingly, banks have subsequently soughtmore data from law firms regarding their operations and the individuals who work for them and set certain criteria such as completing a minimum number of transactions. Many law practices have been removed from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms found it impossible meet the minimum amount of transactions the mortgage companies required.
Would the conveyancing solicitors via your comparison service carry out attended exchange conveyancing in Swansea?
There are a few conveyancing specialists carrying out one day exchanges. You should contact us to secure a conveyancing quote and details as to dates.
What does my ID and proof of funds have anything to do with my conveyancing in Swansea? What am I being asked for?
In order to comply with Money Laundering Regulations any Swansea conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility account showing your correct address.
Under Money Laundering Regulations, conveyancing solicitors are duty bound to ascertain not just the identity of conveyancing clients but also the origin of monies that they receive in respect of any matter. Refusal to disclose this may result in your conveyancer cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to make a disclosure to the relevant authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
The Swansea conveyancing lawyers that just started acting on my purchase in Swansea have suddenly closed. I only went with them because I had to have a firm on the Barclays conveyancing panel and my family Swansea lawyer was not. I gave my credit card details for them to take £195 for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Barclays conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
I am looking to sell my garage which is on a separate legal title with the land registry asking for 30k, to clear debts. There is a mortgage with Bank of Ireland. Is it possible for you to refer me to an inexpensive conveyancing practitioner as the conventional £800-1000 diminishes the return somewhat. Although I live in Swansea I dont need to appoint a Swansea solicitor.
LenderPanel.com is limited to being a directory service for lawyers who want to be listed as being on the approved conveyancing panel for Bank of Ireland in certain areas such as Swansea . We dont recommend any particular solicitor.