Frequently asked questions relating to the Accord Mortgages Solicitor Panel from members of the public
My Solicitor is not on the Accord Mortgages Solicitor Panel. Can I still continue with my preferred solicitor notwithstanding that they are excluded from the Accord Mortgages panel of approved conveyancing solicitors?
You will need to have a conveyancer complete the legal work required when you take out a Accord Mortgages mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Accord Mortgages conveyancing panel additional costs will be incurred as separate legal representation will be required by Accord Mortgages. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
I am purchasing a newly constructed flat and my conveyancer is informing me that she has to reveal incentives from the seller as her firm is on the Accord Mortgages conveyancing panel. I am under pressure to exchange and I would rather not delay matters. Can I insist on an exchange regardless of what my lawyer says about being on the Accord Mortgages panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Accord Mortgages approved panel is to comply with the CML Handbook requirements (last updated for this lender on Accord Mortgages). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do I have to attend the offices of the Accord Mortgages conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Leeds
so that I can attend their offices if required.
Whereas this was necessary 15 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 am buying a semi-detached house and getting a mortgage with Accord Mortgages. Can I do my own conveyancing?
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 had instructed online solicitors located in Birmingham who are on the Accord Mortgages solicitor panel. They are now charging me a separate fee of £135 for the legal aspects of the Accord Mortgages mortgage. Is this a supplemental conveyancing fee specified by Accord Mortgages?
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 Mortgages but by your lawyers. Some firms on the Accord Mortgages will charge an ‘acting for lender’ fee and others do not.
For 5 years I had a mortgage with Accord Mortgages. My uncle retired last week and wants to pay off the mortgage left on the property. After Accord Mortgages is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Accord Mortgages conveyancing panel? I do not intend to live at the property once the Accord Mortgages mortgage is discharged.
You
will need a solicitor but they need not be on the Accord Mortgages conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
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.
