Q and A’s regarding the Bluestone Mortgages Solicitor Panel
from members of the public
It has come to my attention via my mortgage adviser that my the law firm I have appointed is not on the Bluestone Mortgages Conveyancing panel. What can I do to be certain that this is indeed the case?
You need to contact your conveyancer. You lawyer should advise you of the situation. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for Bluestone Mortgages.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Bluestone Mortgages will not agree to this. Why was Bluestone Mortgages even consulted?
Your lawyer being on the Bluestone Mortgages conveyancing panel is duty bound to inform Bluestone Mortgages of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Bluestone Mortgages then they would have to discontinue acting for you and Bluestone Mortgages.
Do all the firms listed on your directory have online case tracking as I understood that this was a condition of being on the Bluestone Mortgages 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.
My grandmother passed away six months ago and as sole heir and executor was left the house. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Bluestone Mortgages , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Bluestone Mortgages will insist on your using a conveyancer on the Bluestone Mortgages conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Bluestone Mortgages conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Bluestone Mortgages mortgage is registered as a charge at the Land Registry.
Are all solicitors on the Bluestone Mortgages conveyancing panel regulated by the SRA?
As a firm of solicitors, in order to be on the Bluestone Mortgages 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).
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Bluestone Mortgages have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Bluestone Mortgages your lawyer must to check the Bluestone Mortgages conveyancing instructions contained in the Part of CML Handbook for Bluestone Mortgages . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Bluestone Mortgages where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
I was told three weeks ago that my mortgage has been agreed
to by Bluestone Mortgages. Is it usual for Bluestone Mortgages to only issue the offer once my
solicitor is approved on their conveyancing panel?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Bluestone Mortgages to deal with your lawyers application to be on the Bluestone Mortgages conveyancing panel. There's no guarantee that your solicitors will be accepted.