Frequently asked questions relating to the Fleet Mortgages Conveyancing Panel from members of the public
My fiance and I are novices when it comes to buying a property. Within the 48 hours our solicitor has forwarded the sale agreement to sign with a detailed report in anticipation of exchanging contracts shortly. Fleet Mortgages have this evening contacted us to advise us that they have now hit a problem as our solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitors should contact Fleet Mortgages and see if they can apply for membership of the Fleet Mortgages conveyancing panel, but if that is not viable Fleet Mortgages will instruct their own lawyers to represent them. You don't have to instruct a firm on the Fleet Mortgages conveyancing panel and you may continue to use your own solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Our lawyer has discovered a problem with the lease for the property we are buying. The other side have offered title insurance as a solution. We are happy with insurance and will pay for it. Our solicitor has advised that as he is on the Fleet Mortgages conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or Fleet Mortgages?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Fleet Mortgages are the client. A precondition to being on the Fleet Mortgages approved panel is to comply with the CML Handbook requirements (last updated for this lender on Fleet Mortgages). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Fleet Mortgages can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I am looking to buy a house and need a conveyancing solicitor in Birmingham who is on the Fleet Mortgages conveyancing. 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 Fleet Mortgages . We don’t recommend any particular firm.
I was scheduled to complete on my flat yesterday. My lawyer’s firm is on the Fleet Mortgages conveyancing panel but has moved offices 8 weeks ago and had not informed Fleet Mortgages of their new address. Fleet Mortgages is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Fleet Mortgages branch or your mortgage broker to see if they can assist.
My wife and I have arranged a further advance on our mortgage from Fleet Mortgages as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Fleet Mortgages conveyancing panel to deal with the paperwork?
Fleet Mortgages do not ordinarily instruct a member of their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Fleet Mortgages list
I am buying a property where the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Fleet Mortgages be concerned
Given that your lender is Fleet Mortgages your lawyer must to check the Fleet Mortgages conveyancing instructions contained in the Part of CML Handbook for Fleet Mortgages . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Fleet Mortgages 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.
Fleet Mortgages have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Fleet Mortgages or your broker and complete any relevant paperwork. Fleet Mortgages will tell you what documents they want. Fleet Mortgages will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Fleet Mortgages will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.