I am expecting a mortgage offer from Lloyds. My intention is to employ the services of a Licensed Conveyancer in East Finchley. Does the Lloyds Conveyancing panel allow for conveyancers regulated by the CLC?
The Lloyds approved solicitor list is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
My partner and I are getting closer to an exchange on a flat in East Finchley and my parents have transferred the exchange deposit to my solicitor. I am now told that as the deposit has been sent from someone other than me my solicitor needs to make a notification to my mortgage company. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the bank about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The lawyer is duty bound to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
I used Wolstenholmes a few years past for my conveyancing in East Finchley. I now require my file however the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in East Finchley of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in East Finchley differ for new build properties?
Most buyers of new build premises in East Finchley come to us having been asked by the seller to sign contracts and commit to the purchase even before the premises is completed. This is because builders in East Finchley tend to acquire the site, 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 property lawyers 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 used to new build conveyancing in East Finchley or who has acted in the same development.
My property lawyer in East Finchley has requested from me personal identification documents saying that this is part of his retainer as a conveyancer on the mortgage company Solicitor panel. Am I being spun a yarn?
Anti-terror and anti-money-laundering rules require East Finchley conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the bank also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the mortgage company's UK Finance Lenders’ Handbook requirements