FAQs : The Godiva Mortgages Conveyancing Panel from members of the public
I am getting a offer of a mortgage from Godiva Mortgages. my intention is to retain the legal services of a Licensed Conveyancer. Does the Godiva Mortgages Conveyancing panel allow for Licensed Conveyancers
Godiva Mortgages’s approved solicitor list is, like many other lenders associated to the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Can you help?. My lawyer is not to blame but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Godiva Mortgages was dated random date and we have agreed a date for me to move into the property on 6 months + 3. My solicitor informs me that as she is on the Godiva Mortgages conveyancing panel she needs to redo the searches as they are no longer valid.
One of the many conditions to being on the Godiva Mortgages approved panel is to comply with the CML Handbook requirements (last updated for this lender on Godiva Mortgages)which specifies that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Godiva Mortgages.
I am looking to buy a flat and need a conveyancing solicitor in Manchester who is on the Godiva Mortgages approved. Can you recommend a local firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Godiva Mortgages . We don’t recommend any particular firm.
Please explain the implications if my lawyer’s firm is removed from the Godiva Mortgages Conveyancing panel prior to the completion date?
First, this is very unlikely to happen. 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 at a cost.
Do most banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Godiva Mortgages conveyancing panel requirements are different to Godiva Mortgages’s conveyancing panel criteria.
We have agreed a price on a apartment I spoke to a conveyancer previously used by my uncle and he suggested using a law firm approved by Godiva Mortgages. The estate agent recommended two local firms so I asked Godiva Mortgages if the 2 suggested solicitors are approved, which they are not. Godiva Mortgages pointed out that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Godiva Mortgages 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Godiva Mortgages to suggest a law firm in your location. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Godiva Mortgages conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Godiva Mortgages conveyancing panel as it may only take about 2-3 weeks. As long as they meet Godiva Mortgages’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
For 5 years I had a mortgage with Godiva Mortgages. My grandfather has just retired and wants to pay off the mortgage left on the property. After Godiva Mortgages is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Godiva Mortgages conveyancing panel? I do not intend to live at the property once the Godiva Mortgages mortgage is discharged.
You
will need a solicitor but they need not be on the Godiva Mortgages conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
