Me and my fiance are planning to purchase a 3 bedroom apartment in Widnes with a mortgage. We like our Widnes conveyancer, but the bank advise she’s not on their "panel". It appears that we have no option but to select one of the bank panel firms or keep our Widnes as well as pay for one of their panel ones to represent them. We regard this is inequitable; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. A further alternative is for your Widnes conveyancing solicitor to apply to be on the conveyancing panel.
I require quick conveyancing in Widnes as I am faced with pressure to sign on the dotted line inside 4 weeks. A home loan is not required. Can I decline from having conveyancing searches to save money and time?
As you are are a mortgage free purchaser you have the choice not to do searches although no solicitor would advise that you don't. Drawing on our experience of conveyancing in Widnes the following are instances of what can appear and adversely affect future mortgageability: Enforcement Notices, Outstanding Fees, Outstanding Grants, Railway Schemes,...
How does conveyancing in Widnes differ for newly converted properties?
Most buyers of new build or newly converted property in Widnes contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because developers in Widnes typically purchase the land, 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 used to new build conveyancing in Widnes or who has acted in the same development.
I have been advised by a number of estate agents in Widnes to find a solicitor using your seach tool. What’s the financial advantage for Estate Agents to promote your lawyers ahead of another?
We don’t make any referral fee for directing people to this site. We thought it would be too underhand a fee because a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Much to my surprise my lawyer in Widnes is asking me for identification documents stating that this forms part of his legal duty as a solicitor on the lender Conveyancing panel. Can you confirm whether this is the case?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the bank. This is not specific to conveyancing in Widnes