Accord Mortgages Conveyancing Panel : Questions and Answers
from members of the public
Can you please explain the reason why all solicitors are not on the Accord Mortgages Solicitor panel?
As unjust as it may seem for Accord Mortgages to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern Accord Mortgages have restricted their conveyancing panel to a size that they are happy to control. The Accord Mortgages lawyer panel is not the most exclusive of all lenders
My partner and I are refinancing our penthouse with Accord Mortgages. We have a son 18 who lives with us. The solicitor on the Accord Mortgages conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Accord Mortgages conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Accord Mortgages conveyancing panel solicitor is doing the right thing 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 Mortgages .This is solely used to protect the Accord Mortgages 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 Mortgages 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.
Are the lawyers identified as being on the Accord Mortgages conveyancing panel, together with their details provided by Accord Mortgages?
The law firm practices 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.
I am buying a garden flat and getting a mortgage with Accord Mortgages. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Accord Mortgages conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Accord Mortgages conveyancing panel in your location.
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to proceed? I plan to obtain a mortgage with Accord Mortgages. Is there anyway to cut out the solicitors to save on the costs? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Accord Mortgages involved you will need to appoint a solicitor on the Accord Mortgages conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Accord Mortgages. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Accord Mortgages conveyancing panel.
My fiance and I are at the point of viewing houses and am about to put in an offer. Should I already have a conveyancer appointed at this stage? I intend to finance via a mortgage with Accord Mortgages
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer 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 Mortgages , make sure you remember to check that your lawyer is on the Accord Mortgages conveyancing panel.
I have paid off my mortgage with Accord Mortgages. I assume I don't need a solicitor on the Accord Mortgages panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Accord Mortgages mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Accord Mortgages mortgage from the register. Accord Mortgages,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Accord Mortgages has sent the Land Registry the discharge electronically, and
the Accord Mortgages has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Accord Mortgages mortgage has been paid off.