Capital Home Loans Conveyancing Panel : Questions and Answers from members of the public
On what basis would a law firm be excluded from the Capital Home Loans approved conveyancing panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been excluded from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Capital Home Loans
My grandson is about to exchange on a newly built flat with a mortgage from Capital Home Loans. His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Capital Home Loans conveyancing panel as a standard part of the process, and to the surveyor when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Capital Home Loans conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have been searching for conveyancing quotes online. Can I be sure that all the practices that are listed on your site are on the Capital Home Loans conveyancing panel?
The law firms on our directory have assured us via an online form 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.
I would like to get my ex-husband taken off the mortgage deeds. Can Capital Home Loans really insist on which solicitor I can or can not use?
You can use any solicitor you like but Capital Home Loans then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Capital Home Loans solicitors panel
We expect to receive a DIP from Capital Home Loans this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Capital Home Loans recommend a solicitor on the Capital Home Loans conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Capital Home Loans conveyancing panel. The solicitor represents both you and the Capital Home Loans through the process.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called Capital Home Loans on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Capital Home Loans conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Capital Home Loans panel she or he must comply with the CML Handbook requirements for Capital Home Loans. Unless your lawyer obtains specific confirmation in writing that Capital Home Loans will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Capital Home Loans to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
Planning on purchasing a house with a mortgage with Capital Home Loans. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Capital Home Loans conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Capital Home Loans conveyancing panel