Examples of recent questions relating to the Bluestone Mortgages Conveyancing Panel from members of the public
My husband and I are buying a 1 bedroom flat in London with a mortgage from Bluestone Mortgages. We have a lawyer but Bluestone Mortgages says she’s not on their "panel". We have to appoint one of the Bluestone Mortgages panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Bluestone Mortgages use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Bluestone Mortgages conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Bluestone Mortgages
We are approaching an exchange and my parents having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Bluestone Mortgages. I am advised that, being on the Bluestone Mortgages conveyancing panel and acting on their behalf he must inform Bluestone Mortgages if the balance of the mortgage advance is coming from anyone other than me. I disclosed to the bank about my parent’s contribution when I applied for the home loan so is it really necessary for him to raise this?
Your lawyer is obliged to check with Bluestone Mortgages to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Bluestone Mortgages if you agree, failing which, your lawyer must cease to continue acting.
Your search tool is useful but there are many lawyers listed near Manchester on the Bluestone Mortgages conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Bluestone Mortgages approved panel?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
We're in Wales, First timers 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
Are all Conveyancing Quality Solicitors on the Bluestone Mortgages conveyancing panel?
A selection of lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
Do the majority of lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Bluestone Mortgages conveyancing panel requirements are different to Bluestone Mortgages’s conveyancing panel requirements.
The mortgage over my property is with Bluestone Mortgages. Conveyancing was finalised 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bluestone Mortgages?
You must advise Bluestone Mortgages prior to renting your property as this is likely to be a breach of Bluestone Mortgages’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bluestone Mortgages directly. You need not do this via a Bluestone Mortgages conveyancing panel solicitor.
