Accord Mortgages Conveyancing Panel Example Support Desk Enquires from members of the public
I am progressing with the sale of my house and the EA has just texted me to warn that the purchasers are swapping law firm. The reason given is that Accord Mortgages will only deal with property lawyers on their conveyancing panel. Why would a big named lender only deal with certain solicitors?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
Much to my surprise my solicitor has requested from me personal identification documents stating that this is part of his requirements as a solicitor on the Accord Mortgages Solicitor panel. Is this right?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Accord Mortgages your lawyer also has to check ID documents to satisfy Accord Mortgages
Whilst your website is a good idea there are many lawyers listed near Chelsea on the Accord Mortgages conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Accord Mortgages ?
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. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I am considering applying for a Accord Mortgages mortgage for purchase of a newly converted (under development) with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Accord Mortgages?
In theory, you could use a solicitor that is not on Accord Mortgages conveyancing panel, but Accord Mortgages would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
We are getting a further advance on our mortgage from Accord Mortgages as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Accord Mortgages conveyancing panel to deal with the legals?
Accord Mortgages would not normally instruct firms on their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Accord Mortgages list
Completion of my remortgage has taken place with a loan from Accord Mortgages. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about Accord Mortgages. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the Accord Mortgages branches or the Customer Care Team at Accord Mortgages head office. In most cases complaints to Accord Mortgages are sorted out very quickly. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Me and my partner are taking a long lease of a 1st floor apartment in Hendon. Conveyancing solicitors in Hendon are preferred to begiven the go-ahead. My fatherrecommended that we check that the conveyancing practitioner in Hendon is on the Accord Mortgages panel. Is this really necessary?
A limited percentage of Hendon conveyancing practices are on the Accord Mortgages conveyancing panel. Click here to locate a Hendon conveyancing firm on the on the Accord Mortgages list of approved conveyancing firms.