FAQs : The Aldermore Bank Solicitor Panel
from members of the public
My lawyer is not listed on the Aldermore Bank Conveyancing Panel. Can I still retain my family solicitor notwithstanding that they are not on the Aldermore Bank list of approved lawyers?
You will need to have a conveyancer complete the legal work required when you take out a Aldermore Bank 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 Aldermore Bank conveyancing panel additional costs will be incurred as separate legal representation will be required by Aldermore Bank. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
Please assist. My lawyer is not to blame but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Aldermore Bank was issued random date and we have agreed a date for me to move into the property on 6. My solicitor has advised that as she is on the Aldermore Bank conveyancing panel she needs to redo the searches as they are no longer valid.
One of the many conditions to being on the Aldermore Bank approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Aldermore Bank)which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Aldermore Bank.
Are there any apps to help find a local solicitor on the Aldermore Bank conveyancing panel? I have a car and am prepared to travel up to 25 kilometers to meet the conveyancer.
You can use the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Aldermore Bank solicitor panel.
The solicitors that just started acting on my purchase in Brighton has suddenly shut down. They were on acting for me because I needed a solicitor on the Aldermore Bank conveyancing panel and my previous lawyer was not. I gave my credit card details for them to take £175 for searches. What do I do now?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Aldermore Bank conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist
We have a mortgage agreed in principle with Aldermore Bank. Solicitors have been appointed? How long does it take for Aldermore Bank to send the offer to our conveyancer
There is no definitive answer here. Have Aldermore Bank done the valuation? Have you advised Aldermore Bank as your lawyers details and checked that your lawyer is on the Aldermore Bank conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to move forward? I plan to obtain a mortgage with Aldermore Bank. Is there anyway to cut out the solicitors to save us both money? 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 Aldermore Bank involved you will need to appoint a solicitor on the Aldermore Bank 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 Aldermore Bank. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Aldermore Bank conveyancing panel.
What are the common reasons for a lender such as Aldermore Bank to withdraw a mortgage offer?
Banks and Building Societies such as Aldermore Bank can withdraw their mortgage offer although this rarely happens. If Aldermore Bank withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a few examples:
-
Where information comes to Aldermore Bank ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
-
Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Aldermore Bank conveyancing panel solicitors would be obliged to notify Aldermore Bank of a change in the price of the property.
-
A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
-
Where the lender has to take account a recent change in taxation
-
Where the lender is on notice of a restriction or a right of pre-emption which is not at market value