Q and A’s regarding the Atom Bank Solicitor Panel from members of the public
My financial adviser has has requested my lawyer’ panel reference for the Atom Bank conveyancing panel. How do I obtain this. I have contacted my local Atom Bank branch but they have not got back to me yet.
Have you tried speaking to your lawyer about this?. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Atom Bank.
My son-in-law is in the process of securing a house that has just been built with a home loan from Atom Bank. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Atom Bank conveyancing panel as a standard part of the process, and to the valuer when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Atom Bank conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Whilst your website is a good idea there are many lawyers listed near Newcastle on the Atom Bank conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Atom Bank ?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
My house is up for sale and I have a buyer. Does my solicitor have to be on the Atom Bank conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Atom Bank conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
is it true that all solicitors on the Atom Bank conveyancing panel overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Atom Bank conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
My husband and I are in the process of viewing flats and am about to put in an offer. Should I already have a conveyancer appointed at this stage? I will be getting a home loan with Atom Bank
It would be sensible to have your start your search soon rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Atom Bank , ask your prospective lawyers check they are on the Atom Bank conveyancing panel otherwise they can't do the mortgage legal work.
My offer on house has been accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with Atom Bank?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Atom Bank conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Atom Bank and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.