Common questions asked concerning the Capital Home Loans Solicitor Panel from members of the public
A lawyer my fiance and I wanted to use for conveyancing on a purchase said he will levy higher legal fees if my lender is because of their unusual legal requirements. Am I likely to be frustrated using Capital Home Loans? Any comments will be appreciated
Capital Home Loans conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Capital Home Loans conveyancing panel. If they are not, this does add further risk of delay as Capital Home Loans will appoint their own solicitors to look after their interest.
Expecting to complete my purchase next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for Capital Home Loans. What does the insurance need to cover?
Any lawyer on the Capital Home Loans conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Capital Home Loans’s Part 2 requirements of the CML Handbook (last updated on Capital Home Loans). Being on the Capital Home Loans conveyancing panel your lawyer is expect to follow these instructions.
Do I need to have a meeting at the offices of the Capital Home Loans conveyancing panel solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Leeds
so that I can attend their offices if required.
Most conveyancing panel lawyers for Capital Home Loans 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.
My solicitors in Manchester have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with Capital Home Loans. Is it case that being on the Capital Home Loans conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Capital Home Loans Conveyancing Panel Terms. It might be worth you contacting Capital Home Loans directly.
I had instructed online conveyancers based in Manchester who are on the Capital Home Loans solicitor panel. They have just invoiced me a separate fee of £195 for the legal aspects of the Capital Home Loans mortgage. Is this an additional conveyancing fee specified by Capital Home Loans?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Capital Home Loans but by your lawyers. Some firms on the Capital Home Loans will charge an ‘acting for lender’ fee and others do not.
Hi, thinking about buying a house off my mate. Once we agree a price, what’s the best way to proceed? I plan to obtain a mortgage with Capital Home Loans. Is there anyway to cut out the solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Capital Home Loans involved you will need to appoint a solicitor on the Capital Home Loans conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Capital Home Loans. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Capital Home Loans conveyancing panel.
I currently have a mortgage with with Capital Home Loans. Conveyancing has been completed some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Capital Home Loans?
You must advise Capital Home Loans before letting out your property as this is likely to be a breach of Capital Home Loans’s mortgage conditions. In many cases banks or building societies will permit you to let 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 Capital Home Loans directly. It should not be necessary to do this via a Capital Home Loans conveyancing panel lawyer.