Accord Mortgages Conveyancing Panel Sample Enquires to our Call Center from members of the public
We are hoping to buy a 1 bedroom apartment in Leeds with a mortgage from Accord Mortgages. We like our lawyer but Accord Mortgages says he's not on their "panel". We have to appoint one of the Accord Mortgages panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Accord Mortgages use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Accord Mortgages 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 lawyer to apply to be on the conveyancing panel for Accord Mortgages
We are nearing an exchange and my mum and dad having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Accord Mortgages. I am advised that, being on the Accord Mortgages conveyancing panel and acting on their behalf he must inform Accord Mortgages if the balance of the mortgage advance is not just from me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Accord Mortgages to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Accord Mortgages if you agree, failing which, your lawyer must cease to continue acting.
Are the lawyers identified as being on the Accord Mortgages conveyancing panel, together with their details provided by Accord Mortgages?
The firms themselves provide us confirmation that they are on the Accord Mortgages conveyancing panel as opposed to being supplied with a list from Accord Mortgages directly.
What happens if my lawyer’s firm is suspended from the Accord Mortgages Solicitor panel before completion?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Are all solicitor practices on the Accord Mortgages conveyancing panel overseen by the SRA?
As solicitors, in order to be on the Accord Mortgages conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I am buying a property where the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Accord Mortgages be concerned
Given that your lender is Accord Mortgages your lawyer must to check the Accord Mortgages conveyancing instructions contained in the Part of CML Handbook for Accord Mortgages . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Accord Mortgages where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
We have had an offer accepted on a house I spoke to a conveyancer recommended by my uncle and he recommended using a law firm approved by Accord Mortgages. The estate agent recommended two local firms so I asked Accord Mortgages if the 2 suggested solicitors are approved, which they are not. Accord Mortgages suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Accord Mortgages 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Accord Mortgages to suggest a law firm in your location. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Accord Mortgages conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Accord Mortgages conveyancing panel as it may only take about 2-3 weeks. As long as they meet Accord Mortgages’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
