Q and A’s regarding the Atom Bank Solicitor Panel
from members of the public
I am expecting a mortgage offer from Atom Bank. I would like to use a Licensed Conveyancer. Does the Atom Bank Conveyancing panel exclude Licensed Conveyancers
Atom Bank’s approved solicitor list is, like many other lenders associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My lawyer has spotted an inconsistency between the assumptions in Atom Bank’s valuation report and what is in the title deeds. My solicitor says that as he is on the Atom Bank conveyancing panel he is duty bound to ensure that the lender is with this discrepancy and is content go ahead. Is my conveyancer’s stance appropriate?
A precondition to being on the Atom Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Atom Bank) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Do all the firms listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Atom Bank conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
My solicitors in Leeds have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with Atom Bank. Is it case that being on the Atom Bank conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Atom Bank Conveyancing Panel Terms. It might be worth you contacting Atom Bank directly.
Is there a list of Atom Bank 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.
We are getting a further advance on our mortgage from Atom Bank as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Atom Bank conveyancing panel to deal with the paperwork?
Atom Bank do not ordinarily appoint firms on their conveyancing panel 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 Atom Bank list
I am buying a property where the roof has a solar panel. Atom Bank have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Atom Bank your lawyer must to check the Atom Bank conveyancing instructions contained in the Part of CML Handbook for Atom Bank . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Atom Bank where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.