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

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

Under Money Laundering Regulations, conveyancers are obliged by law to investigate not just the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. An unwillingness to disclose this will 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 property lawyers will have an obligation to inform the appropriate authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.

My fiance and I are buying a purpose built flat in Newcastle Emlyn with a mortgage from Leeds Building Society.We would like to retain our Newcastle Emlyn conveyancing practitioner but Leeds Building Society informed us she’s not listed on their approved list of member firms. We have to appoint a Leeds Building Society panel firm or retain our preferred solicitor and fork out for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Leeds Building Society use our lawyer?

No, not really. The mortgage issued to you is subject to its terms and conditions, one of which will be that solicitors must be on the Leeds Building Society conveyancing panel. in the past, most lenders had large numbers of law firms on their panels: a borrower could find 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for Leeds Building Society

I'm purchasing my first flat in Newcastle Emlyn benefiting from help to buy. The developers refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not disclose to my lawyer about the deal as it will impact my loan with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder 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.

I was advised by a number of estate agents in Newcastle Emlyn to choose a solicitor on your site. What’s the financial inducement for Estate Agents to recommend your lawyers over and above a competitor’s?

We don’t give any referral fee for pointing buyers and sellers our way. We found it would be just too difficult a fee as home movers will think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.

I need to find a bank panel solicitor in Newcastle Emlyn. Could you help me?

Unfortunately it’s not apparent why you need a Newcastle Emlyn panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the lender to find out which solicitors in Newcastle Emlyn are on their panel . If you do find such a firm in Newcastle Emlyn not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site