Atom Bank Conveyancing Panel : Questions and Answers
from members of the public
My financial adviser has asked me for my solicitor’s panel member for the Atom Bank conveyancing panel. Can you suggest how I obtain this. I have e-mailed my local Atom Bank office but they have not got back to me yet.
You are best placed to get this information from your conveyancing lawyer. 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 partner and I intend to remortgage our flat with Atom Bank. We have a son 19 who lives with us. The solicitor on the Atom Bank conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this form unique to the Atom Bank conveyancing panel as he did not need to sign this form when we bought 3 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 Atom Bank .This is solely used to protect the Atom 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 Atom 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.
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.
I was due to move into my dream home last Thursday. 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. Most 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 assist.
I had instructed online conveyancers located in Cardiff who are on the Atom Bank solicitor panel. They have just invoiced me a separate fee of £195 for dealing with the Atom Bank mortgage. Is this a supplemental conveyancing fee specified by Atom 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 Atom Bank but by your lawyers. Some firms on the Atom Bank will charge an ‘acting for lender’ fee and others do not.
After much negotiation I have agreed a price on a house. My mortgage broker suggested a solicitor I paid an upfront payment of 225. Soon after the conveyancers contacted me to say that they were not on the Atom Bank conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Atom Bank panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am selling my flat. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Atom Bank are being difficult. The solicitor who is on the Atom Bank conveyancing panel is saying indemnity insurance will be fine but Atom Bank are insisting on a building regulation certificate. Why do Atom Bank have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Atom Bank have referred the matter to their valuer. The reason why Atom 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.