Danske Bank Conveyancing Panel : Questions and Answers from members of the public
We are purchasing a 2 bedroom apartment in Hackney with a mortgage from Danske Bank. We like our lawyer but Danske Bank says she’s not on their "panel". We have to appoint one of the Danske Bank panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Danske Bank 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for Danske Bank
Our god-son is purchasing a new build apartment with a home loan from Danske Bank. His lawyer has advised him of a delay in receiving 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 Danske Bank conveyancing panel as a standard part of the process, and to the valuer when asked.
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 Danske Bank 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 Googling for competitive conveyancing fees. Can I be assured that all the firms that are listed on your site are on the Danske Bank conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have assured us via an online form that they are on the Danske Bank panel and agreed to advise us to take down their listing in the event of removal off of the Danske Bank panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific firm being on the Danske Bank conveyancing panel is incorrect.
I am considering applying for a Danske Bank mortgage for purchase of a new build (under development) with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Danske Bank?
In theory, you could use a solicitor that is not on Danske Bank conveyancing panel, but Danske Bank would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
When it comes to lenders such as Danske Bank do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I have a mortgage with Danske Bank. Conveyancing has been completed 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 BTL mortgage or inform Danske Bank?
You must advise Danske Bank before renting your property as this is likely to be a breach of Danske Bank’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 Danske Bank directly. You need not do this via a Danske Bank conveyancing panel solicitor.
It is not clear whether my mortgage offer requires a lease extension . I have telephoned Danske Bank on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Danske Bank conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Danske Bank. Unless your lawyer obtains specific confirmation in writing that Danske Bank 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 Danske Bank to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.