FAQs : The Bluestone Mortgages Conveyancing Panel from members of the public
What is the rationale as to why all UK lawyers aren't included on the Bluestone Mortgages Conveyancing panel?
Before the recession most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
Our conveyancing solicitor is asking me for proof of ID documents saying that this forms part of his obligations as a conveyancer on the Bluestone Mortgages Conveyancing panel. Can you confirm whether this is the case?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Bluestone Mortgages your lawyer also has to check ID documents to satisfy Bluestone Mortgages
Do I need to have a meeting at the offices of the Bluestone Mortgages conveyancing panel solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Newcastle
so that I can pop in to their offices if necessary.
Most conveyancing panel lawyers for Bluestone Mortgages undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
We're in London, First time buyers purchasing 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
Is there a list of Bluestone Mortgages panel conveyancers on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
My brother and I have agreed a price on a apartment I spoke to a lawyer previously used by my brother and he advised instructing a law firm approved by Bluestone Mortgages. The estate agent recommended two local firms so I asked Bluestone Mortgages if the 2 suggested solicitors are approved, which they are not. Bluestone Mortgages pointed out that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Bluestone Mortgages 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Bluestone Mortgages to suggest a law firm in your location. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Bluestone Mortgages conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Bluestone Mortgages conveyancing panel as it may only take about 2-3 weeks. As long as they meet Bluestone Mortgages’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
My husband and I are at the point of viewing apartments and am about to put in an offer. Is it premature to have a solicitor in place? I intend to finance via a mortgage with Bluestone Mortgages
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use 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 Bluestone Mortgages , make sure you remember to check that your lawyer is on the Bluestone Mortgages conveyancing panel.