Habito Conveyancing Panel : Questions and Answers
from members of the public
Much to my surprise I have been told by my financial adviser that my solicitor is not on the Habito Conveyancing panel. What can I do to be sure that this is correct?
You need to contact your lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for Habito.
I am due to move into my new home next Tuesday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as he says that he has to check this in has capacity as lawyer for Habito. What risks do Habito expect the insurance to cover?
All property lawyers on the Habito 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 Habito’s Part 2 requirements of the CML Handbook (last updated on Habito). Being on the Habito conveyancing panel your lawyer is expect to follow these requirements.
I am purchasing a property and need a conveyancing solicitor in Liverpool who is on the Habito solicitor. Can you recommend a local conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Habito . We don’t recommend any particular firm.
I am considering applying for a Habito mortgage for purchase of a newly converted (under development) with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Habito?
There is nothing to stop you using your solicitor but Habito will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Are all Conveyancing Quality Solicitors on the Habito conveyancing panel?
It is true that some lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
For 5 years I had a mortgage with Habito. My uncle retired last week and wants to pay off the mortgage left on the property. After Habito 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 Habito conveyancing panel? I do not intend to live at the property once the Habito mortgage is discharged.
will need a solicitor but they need not be on the Habito 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.
My offer on house has been accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What should be my next step? When should I get the mortgage app going with Habito?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Habito conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Habito and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.