Q and A’s regarding the Foundation Home loans Conveyancing Panel from members of the public
I am obtaining a offer of a mortgage from Foundation Home loans. I would like to retain the legal services of a Licensed Conveyancer. Does the Foundation Home loans Conveyancing panel exclude conveyancers regulated by the CLC
Foundation Home loans’s approved solicitor list is, like many other lenders associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
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 Foundation Home loans. What does the insurance need to cover?
Any lawyer on the Foundation 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 Foundation Home loans’s Part 2 requirements of the CML Handbook (last updated on Foundation Home loans). Being on the Foundation Home loans conveyancing panel your lawyer is expect to follow these instructions.
I have been searching for competitive conveyancing fees. Can I be confident that all the practices that are identified on your website are on the Foundation Home loans conveyancing panel?
The law firms listed on our site have assured us via an online form that they are on the Foundation Home loans panel and agreed to advise us to take down their listing in the event of removal off of the Foundation Home loans 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 Foundation Home loans conveyancing panel is incorrect.
I am purchasing a garden flat and getting a mortgage with Foundation Home loans. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Foundation Home loans conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Foundation Home loans conveyancing panel in your location.
My fiance and I are in the process of looking at apartments and am about to put in an offer. Should I already have a conveyancer appointed at this stage? I I am planning to take a home loan with Foundation Home loans
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Foundation Home loans , make sure you remember to check that your lawyer is on the Foundation Home loans conveyancing panel.
The for formalities of my purchase has taken place with a loan from Foundation Home loans. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about Foundation Home loans. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the Foundation Home loans branches or the Customer Services Team at Foundation Home loans head office. We understand that complaints to Foundation Home loans are resolved effectively and efficiently. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service who will take matters further.
Planning on purchasing a flat 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 Building Society 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