Q and A’s regarding the Bluestone Mortgages Conveyancing Panel
from members of the public
I am getting a offer of a mortgage from Bluestone Mortgages. I hope to employ the services of a Licensed Conveyancer. Does the Bluestone Mortgages Solicitor panel allow for Licensed Conveyancers
Bluestone Mortgages’s approved solicitor list is, like many other lenders represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
Our solicitor has identified a defect with the lease for the property we are buying. The other side have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer says that as he is on the Bluestone Mortgages conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or Bluestone Mortgages?
Just because you have a mortgage offer from Bluestone Mortgages does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Bluestone Mortgages are the client. The appropriate lender requirements must be adhered to by the Bluestone Mortgages conveyancing panel who has to balance acting for you and Bluestone Mortgages
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Bluestone Mortgages conveyancing panel. My lawyer has said that they are on the Bluestone Mortgages approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Bluestone Mortgages conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Bluestone Mortgages solicitor panel.
We're in Liverpool, FTBs buying with a mortgage (lender is Bluestone Mortgages , but our lawyer is on the Bluestone Mortgages conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Bluestone Mortgages conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
When it comes to lenders such as Bluestone Mortgages do lawyers have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
In what circumstances might Bluestone Mortgages amend or withdraw their mortgage offer?
Lenders such as Bluestone Mortgages can revoke their mortgage offer although this is unusual. should Bluestone Mortgages withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a number of examples:
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Where information comes to Bluestone Mortgages ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
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If the borrower informs Bluestone Mortgages of a change in security address
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If the borrower informs Bluestone Mortgages of a change in the loan amount agreed
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Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Bluestone Mortgages conveyancing panel solicitors would be obliged to notify Bluestone Mortgages of a change in the price of the property.
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Following advice from the valuer on their lender panel or If the lender has doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion
The for formalities of my purchase has taken place with a mortgage from Bluestone Mortgages. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about Bluestone Mortgages. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the Bluestone Mortgages branches or the Customer Services Department at Bluestone Mortgages head office. In most cases complaints to Bluestone Mortgages are sorted out very quickly. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service with full details of your complaint.