My husband and I are planning to buy a property in Watton and have appointed a Watton conveyancing practice. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Barnsley Building Society have this evening contacted us to advise us that there is now an issue as our Watton lawyer is not on their conveyancing panel. Please explain?

If you are buying a property with the assistance of a mortgage it is conventional for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Watton lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.

What does my ID and proof of funds have anything to do with my conveyancing in Watton? Why is this being asked of me?

In order to comply with Money Laundering Regulations any Watton conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account evidencing your correct address.

Under Money Laundering Regulations, conveyancers are duty bound to ascertain not simply the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this will result in your solicitor cancelling their retainer 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 relevant authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.

I have todayfound out that Arc property Solicitors have been shut down. They conducted my conveyancing in Watton for a purchase of a leasehold flat 18 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?

The easiest way to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Watton conveyancing specialists.

I decided to have a survey done on a property in Watton before retaining conveyancers. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some lenders may refuse to grant a loan on such a home.

It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Watton. Conveyancing may be slightly more expensive based on your lender's requirements.

I am one month into a residential purchase having been recommend to conveyancers by the estate agent to execute conveyancing in Watton. I am not happy. Could you help me find new lawyers?

They would need to be very poor to suggest changing them. Has the mortgage been sent? If so you must make them aware of the new lawyer and get the offer are re-issued. Your new conveyancer needs to be on the mortgage company approved list to avoid supplemental fees and complications. So that should be your first question of the new solicitors. The search tool can help you find a lender approved solicitor for your conveyancing in Watton