FAQs for the Foundation Home loans Conveyancing Panel from members of the public
Much to my surprise I have been told by my financial adviser that my lawyer is not on the Foundation Home loans Solicitor panel. How can I be sure that this is correct?
You need to contact your lawyer directly. You lawyer should advise you of the situation. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for Foundation Home loans.
My grandson is about to exchange on a new build apartment with a mortgage from Foundation Home loans. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Foundation Home loans conveyancing panel as a standard part of the process, and to the valuer 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 Foundation 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.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Foundation Home loans solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I am attempting to get my ex-wife taken off the mortgage deeds. Can Foundation Home loans really tell me which solicitor I can or can not instruct?
You can use any solicitor you like but Foundation 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 Foundation Home loans solicitors panel
I am due to exchange contracts on my apartment. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Foundation Home loans are being a right pain. The solicitor who is on the Foundation Home loans conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Foundation Home loans are requiring a building regulation certificate. Why do Foundation Home loans have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Foundation Home loans have referred the matter to their valuer. The reason why Foundation Home loans 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.
Intending to buy a house with a mortgage with Foundation 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 Foundation 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 Foundation Home loans conveyancing panel
My offer was accepted on an apartment on the 20th February 2014, valuation was booked 3 days after, received a clean bill of health. Conveyancer appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to Foundation Home loans and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Foundation Home loans conveyancing panel. Are Foundation Home loans entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Foundation Home loans to deal with your lawyers application to be on the Foundation Home loans conveyancing panel. There's no guarantee that your solicitors will be accepted.
