Accord Buy to Let Solicitor Panel Example Support Desk Enquires
from members of the public
I appointed a firm of solicitors to conveyancing on my purchase six weeks ago having applied for a mortgage with Accord Buy to Let. The firm assured me that they are on Accord Buy to Let conveyancing panel and gave me their panel number. Accord Buy to Let then told me that their panel number was dormant and would need to be reactivated. What happens next? Do I instruct a different law firm listed on the conveyancing panel for Accord Buy to Let?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the Accord Buy to Let as to the time frame to get your lawyer reinstated on the panel once again.
My husband and I intend to remortgage our flat with Accord Buy to Let. We have a son approaching twenty who lives with us. The solicitor on the Accord Buy to Let conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of questions (1) Is this document specific to the Accord Buy to Let conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Accord Buy to Let .This is solely used to protect the Accord Buy to Let if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Accord Buy to Let had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Do all mortgage companies provide you with an approved list of solicitors? How do you know who is on the Accord Buy to Let conveyancing panel?
The firms themselves provide us confirmation that they are on the Accord Buy to Let conveyancing panel as opposed to being supplied with a list from Accord Buy to Let directly.
My grandmother passed away six months ago and as sole heir and executor was left the house. The house had a relatively small loan left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Accord Buy to Let , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Accord Buy to Let will insist on your using a conveyancer on the Accord Buy to Let conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Accord Buy to Let conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Accord Buy to Let mortgage is registered as a charge at the Land Registry.
Can I be sure that the solicitor on the Accord Buy to Let panel is any good?
obtaining recommendations is a sensible start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor carrying out your conveyancing
I'm in the throws of looking at flats and am about to put in an offer. Should I already have a conveyancer appointed at this stage? I will be getting a mortgage with Accord Buy to Let
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Accord Buy to Let , make sure you remember to check that your lawyer is on the Accord Buy to Let conveyancing panel.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called Accord Buy to Let on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Accord Buy to Let conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Accord Buy to Let panel she or he must comply with the CML Handbook requirements for Accord Buy to Let. Unless your lawyer obtains specific confirmation in writing that Accord Buy to Let will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Accord Buy to Let to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.