Examples of recent questions relating to the Atom Bank Conveyancing Panel from members of the public
I would like to know the reason why all UK lawyers are not on the Atom Bank Solicitor panel?
Even though it may seem unfair for Atom Bank to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern Atom Bank have restricted their panel of approved conveyancing lawyers to a size that they are happy to control. The Atom Bank solicitor panel is not the most difficult to join
Expecting to move into my new home next Friday. 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 firms on the Atom Bank conveyancing panel. Do firms pay you a commission if I retain 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.
The firm that just started acting on my purchase in London has suddenly shut down. I chose them because I had to have a lawyer on the Atom Bank conveyancing panel and my preferred lawyer was not. I gave them a cheque for £150 in advance. What do I do now?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Atom Bank conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help
My fiance and I are at the point of viewing houses and now considering a potential offer. Is it premature to have a solicitor in place? I will be getting a home loan with Atom Bank
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. 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 existing mortgage is with Atom Bank. My uncle retired last week and wants to pay off the mortgage left on the property. After Atom Bank is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Atom Bank conveyancing panel? I do not intend to live at the property once the Atom Bank mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Atom Bank panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
My brother and I are taking a long lease of a flat in Hendon. Conveyancing solicitors in Hendon need to beinstructed. My colleaguerecommended that we double-check that the conveyancer in Hendon is on the Atom Bank list of approved conveyancing firms. Is this right?
It is not that case that all Hendon conveyancing firms are on the Atom Bank conveyancing panel. 5 people a month use our search tool to locate a Hendon conveyancing solicitor on the on the Atom Bank solicitors pane.
