Common questions asked concerning the Capital Home Loans Solicitor Panel from members of the public
I am progressing with the sale of my house and the estate agent has just called to advise that the purchasers are appointing a new conveyancer. I am told that this is due to the fact that Capital Home Loans will only engage with solicitors on their conveyancing panel. Why would a big named lender only deal with certain lawyers?
Banks have always had panels of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks blame a rise in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
Can you help?. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Capital Home Loans was dated random date and we have agreed a date for me to move into the property on Tues etc. My solicitor says that as she is on the Capital Home Loans conveyancing panel she needs to reorder the searches as they are no longer acceptable to the lender.
A precondition to being on the Capital Home Loans approved panel is to comply with the CML Handbook requirements (last updated for this lender on Capital Home Loans)which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Capital Home Loans.
I am Googling for online conveyancing estimates. Can I be sure that all the law firms that are identified on your website are on the Capital Home Loans conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have advised us that they are on the Capital Home Loans panel and agreed to advise us to take down their listing in the event of removal off of the Capital Home Loans panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Capital Home Loans conveyancing panel is incorrect.
My uncle passed away last year and as sole heir and executor was left the property. The house had a small mortgage left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Capital Home Loans , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Capital Home Loans will insist on your using a conveyancer on the Capital Home Loans 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 Capital Home Loans 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 Capital Home Loans mortgage is registered as a charge at the Land Registry.
Last month we had a mortgage agreed in principle with Capital Home Loans. Solicitors have been chosen? What is the average time that one could expect to receive a mortgage offer from Capital Home Loans?
Some lenders take longer than others. Have Capital Home Loans completed the survey? Have you advised Capital Home Loans as your lawyers details and checked that your lawyer is on the Capital Home Loans conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Capital Home Loans 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 Capital Home Loans your lawyer must to check the Capital Home Loans conveyancing instructions contained in the Part of CML Handbook for Capital Home Loans . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Capital Home Loans 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 am due to exchange contracts on my house. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Capital Home Loans are being pedantic. The solicitor who is on the Capital Home Loans conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Capital Home Loans are insisting on a building regulation certificate. Why do Capital Home Loans have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Capital Home Loans have referred the matter to their valuer. The reason why Capital Home Loans may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.