Habito Conveyancing Panel Sample Enquires to our Call Center from members of the public
I am in the process of selling my maisonette and the EA has just called to warn that the purchasers are switching law firm. The reason given is that Habito will only engage with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only work with certain lawyers?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks blame a rise in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
I am due to move into my new home next Friday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order 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 looking to buy a house and need a conveyancing solicitor in London who is on the Habito 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 Habito . We don’t recommend any particular firm.
The lawyers that I recently instructed on my house acquisition in Newcastle has without warning closed. I chose them because I needed a firm on the Habito conveyancing panel and my previous lawyer was not. I gave them a cheque for £150 in advance. What should be my next steps?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Habito conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to move forward? I plan to obtain a mortgage with Habito. Is there anyway to cut out the solicitors to save on the costs? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Habito involved you will need to appoint a solicitor on the Habito conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Habito. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Habito conveyancing panel.
I have today made my last payment due on mortgage with Habito. I assume I don't need a solicitor on the Habito panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Habito mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Habito mortgage from the register. Habito,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Habito has sent the Land Registry the discharge electronically, and
the Habito has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Habito mortgage has been paid off.
I have decided to exercise my right to buy my property off the council. I have a mortgage offer with Habito. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Habito you will need to appoint a solicitor on the Habito conveyancing panel.