FAQs for the Accord Mortgages Conveyancing Panel from members of the public
My husband and I are purchasing a 3 bedroom apartment in Hackney with a mortgage from Accord Mortgages. We have a lawyer but Accord Mortgages says she’s not on their "panel". It seems we have little choice but to instruct one of the Accord Mortgages panel solicitors 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Accord Mortgages
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Accord Mortgages will not agree to this. Why was Accord Mortgages even consulted?
Your lawyer being on the Accord Mortgages conveyancing panel is duty bound to inform Accord Mortgages of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Accord Mortgages then they would have to discontinue acting for you and Accord Mortgages.
Do I have to have a meeting at the offices of the Accord Mortgages conveyancing panel solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Leeds
so that I can pop in to their offices when needed.
As opposed to 12 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Leeds
.
I would like to get my ex-wife removed the mortgage deeds. Can Accord Mortgages really tell me which solicitor I can or can not instruct?
You can use any solicitor you like but Accord Mortgages then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Accord Mortgages solicitors panel
Do conveyancing solicitors on the Accord Mortgages conveyancing panel work on a no move no charge basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
Intending to buy a flat with a mortgage with Accord Mortgages. 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 Mortgages 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 Mortgages conveyancing panel
My ex -wife’s name is on the Accord Mortgages mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Accord Mortgages mortgage in order to sell?
As regards the Accord Mortgages mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Accord Mortgages in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
