Examples of recent questions relating to the ASTRA mortgages Solicitor Panel
from members of the public
For what reasons could a firm of solicitors be excluded from the ASTRA mortgages approved conveyancing panel?
According to a recent survey report by the solicitors regulator three quarters of solicitor practices had been excluded from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by ASTRA mortgages
I am due to move into my new home next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in has capacity as lawyer for ASTRA mortgages. What does the insurance need to cover?
All property lawyers on the ASTRA mortgages conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in ASTRA mortgages’s Part 2 requirements of the CML Handbook (last updated on ASTRA mortgages). Being on the ASTRA mortgages conveyancing panel your lawyer is expect to follow these instructions.
I have been Googling for conveyancing quotes online. Can I be assured that all the firms that are identified on your website are on the ASTRA mortgages conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have advised us that they are on the ASTRA mortgages panel and agreed to advise us to take down their listing in the event of removal off of the ASTRA mortgages panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the ASTRA mortgages conveyancing panel is incorrect.
My grandmother passed away 10 months ago and as sole heir and executor was left the property. The house had a small mortgage remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to ASTRA mortgages , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then ASTRA mortgages will insist on your using a conveyancer on the ASTRA mortgages conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your ASTRA mortgages conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the ASTRA mortgages mortgage is registered as a charge at the Land Registry.
When it comes to mortgage companies such as ASTRA mortgages do lawyers have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Is there a list of ASTRA mortgages panel solicitors on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
My ex -wife’s name is on the ASTRA 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 ASTRA mortgages mortgage in order to sell?
As regards the ASTRA 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 ASTRA 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.