Q and A’s regarding the Atom Bank Solicitor Panel from members of the public
My financial adviser has says he needs my law firm’s panel member for the Atom Bank conveyancing panel. What is the best way to discover this. I have called my local Atom Bank office but they don't know it.
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.
I am due to complete my purchase 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 Atom Bank. What risks do Atom Bank expect the insurance to cover?
All property lawyers on the Atom Bank 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 Atom Bank’s Part 2 requirements of the CML Handbook (last updated on Atom Bank). Being on the Atom Bank conveyancing panel your lawyer is expect to follow these requirements.
I see that you have a search directory identifying solicitors on the Atom Bank conveyancing panel. Do firms pay you a referral fee if I instruct them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Atom Bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I was scheduled to complete on my dream home yesterday. My solicitor is on the Atom Bank conveyancing panel but has moved offices in the past couple of months and had not informed Atom Bank of their new address. Atom Bank has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Atom Bank branch or your mortgage broker to see if they can help.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Atom Bank conveyancing panel?
A selection of banks and building societies now use CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
Two weeks ago we had a mortgage agreed in principle with Atom Bank. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from Atom Bank?
There is no definitive answer here. Have Atom Bank done the valuation? Have you advised Atom Bank as your lawyers details and checked that your lawyer is on the Atom Bank conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
Intending to buy a house with a mortgage with Atom Bank. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Atom Bank conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Atom Bank conveyancing panel
