Aldermore Bank Conveyancing Panel Sample Enquires to our Call Center from members of the public
My fiance and I are purchasing a 2 bedroom flat in Newcastle with a mortgage from Aldermore Bank. We have a lawyer but Aldermore Bank says she’s not on their "panel". We have to appoint one of the Aldermore Bank panel firms 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 Aldermore Bank use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Aldermore Bank 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for Aldermore Bank
My partner and I intend to remortgage our flat with Aldermore Bank. We have a son 19 who lives with us. The solicitor on the Aldermore Bank conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this form unique to the Aldermore Bank 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?
On the face of it your lawyer has done nothing wrong 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 Aldermore Bank .This is solely used to protect the Aldermore Bank 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 Aldermore Bank 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.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Aldermore Bank conveyancing panel. My lawyer has said that they are on the Aldermore Bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Aldermore Bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Aldermore Bank solicitor panel.
We're in Wales, First time buyers purchasing with a mortgage (lender is Aldermore Bank , but our lawyer is on the Aldermore Bank conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Aldermore Bank conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
I previously instructed online solicitors based in Cardiff who are on the Aldermore Bank solicitor panel. They are now charging me a separate fee of £195 for dealing with the Aldermore Bank mortgage. Is this an additional conveyancing fee specified by Aldermore Bank?
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 Aldermore Bank but by your lawyers. Some firms on the Aldermore Bank will charge an ‘acting for lender’ fee and others do not.
How can we tell if a solicitor on the Aldermore Bank panel is any good?
seeking recommendations is a sensible starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor conducting your conveyancing
I am selling my house. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Aldermore Bank are being a right pain. The solicitor who is on the Aldermore Bank conveyancing panel is recommending indemnity insurance as a solution but Aldermore Bank are requiring a building regulation certificate. Why do Aldermore Bank have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Aldermore Bank have referred the matter to their valuer. The reason why Aldermore Bank may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.