First Trust Bank Conveyancing Panel : Questions and Answers from members of the public
Is the fact that my conveyancer is not on the First Trust Bank Solicitor panel that there is a problem with the standard of his conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for First Trust Bank.
My partner and I are refinancing our apartment with First Trust Bank. We have a son 19 who lives with us. The solicitor on the First Trust Bank conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have a couple of questions (1) Is this form unique to the First Trust Bank conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your First Trust Bank conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to First Trust Bank .This is solely used to protect the First Trust Bank if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of First Trust Bank had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am buying a house and require a conveyancing solicitor in Newcastle who is on the First Trust Bank solicitor. Could you point me in the right direction as regards a conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for First Trust Bank . We don’t recommend any particular firm.
What happens if my lawyer’s firm is expelled from the First Trust Bank Solicitor panel prior to the completion date?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
After much negotiation I have agreed a price on an apartment. My mortgage broker recommended their conveyancers I paid an upfront payment of 200. Soon after the conveyancers contacted me to say that they were not on the First Trust Bank conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the First Trust Bank panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am due to exchange contracts on my house. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, First Trust Bank are being a right pain. The solicitor who is on the First Trust Bank conveyancing panel is happy to accept ‘lack of building regulation’ insurance but First Trust Bank are requiring a building regulation certificate. Why do First Trust Bank have a conveyancing panel of they don’t accept advice from them?
It is probably the case that First Trust Bank have referred the matter to their valuer. The reason why First Trust Bank 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.
Sometime soon me and my wife are remortgaging a garden flat in Hendon. Conveyancing solicitors in Hendon are preferred to beretained. My mothersuggested that we enquire that the conveyancing practitioner in Hendon is on the First Trust Bank approved list of lawyers. Aren't all lawyers on the First Trust Bank panel?
It is not that case that all Hendon conveyancing solicitors are on the First Trust Bank conveyancing panel. 5 people a month use our search tool to locate a Hendon conveyancing lawyer on the on the First Trust Bank list of approved conveyancing firms.