Accord Buy to Let Conveyancing Panel Example Support Desk Enquires from members of the public
On what basis would a law firm be excluded from the Accord Buy to Let solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been removed from a lender panel. The most common reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Accord Buy to Let
Can you help?. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from Accord Buy to Let was date stamped random date and we have agreed a date for me to move into the property on Tues etc. My solicitor has advised that as she is on the Accord Buy to Let conveyancing panel she needs to reorder the searches as they are no longer acceptable to the lender.
A precondition to being on the Accord Buy to Let approved panel is to comply with the CML Handbook requirements (last updated for this lender on Accord Buy to Let)which specifies that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Accord Buy to Let.
Your search tool is useful but there are many lawyers listed near Coventry on the Accord Buy to Let conveyancing panel. Can you recommend a specific firm on the conveyancing panel for Accord Buy to Let ?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
I am considering applying for a Accord Buy to Let mortgage for purchase of a newly converted (under development) with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Accord Buy to Let?
There is nothing to stop you using your solicitor but Accord Buy to Let will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
When it comes to mortgage companies such as Accord Buy to Let do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I previously instructed online conveyancers based in London who are on the Accord Buy to Let solicitor panel. They have just invoiced me a separate fee of £175 for dealing with the Accord Buy to Let mortgage. Is this a supplemental conveyancing fee set by Accord Buy to Let?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Accord Buy to Let but by your lawyers. Some firms on the Accord Buy to Let will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
Planning on purchasing a house with a mortgage with Accord Buy to Let. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Accord Buy to Let conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Accord Buy to Let conveyancing panel
