Frequently asked questions relating to the JPMorgan Conveyancing Panel
from members of the public
I instructed a solicitor to conveyancing on my purchase 5 weeks ago having applied for a mortgage with JPMorgan. The law firm reassured me that they are on JPMorgan conveyancing panel and advised me their panel reference. JPMorgan then told me that their panel number was dormant and would need to be reactivated. What happens next? Should I appoint a new solicitor currently on the conveyancing panel for JPMorgan?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the JPMorgan conveyancing panel You may wish to enlist the help of your broker to check with the JPMorgan as to how long they think it will take to get the firm to get back on the panel.
can you help? My solicitor is informing me me that he has to apply for a Local Authority search because the firm are on the JPMorgan solicitor panel. Do I not have a choice here?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with JPMorgan your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of JPMorgan’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated JPMorgan. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
How do I search for a local solicitor on the JPMorgan conveyancing panel? I have a car and am prepared to travel up to 20 kilometers to meet the lawyer.
You can use the find a conveyancing panel tool on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the JPMorgan solicitor panel.
I am considering applying for a JPMorgan mortgage for purchase of a newly converted (under development) with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for JPMorgan?
In theory, you could use a solicitor that is not on JPMorgan conveyancing panel, but JPMorgan would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I previously instructed online solicitors located in Birmingham who are on the JPMorgan solicitor panel. They have just invoiced me a separate fee of £135 for the legal aspects of the JPMorgan mortgage. Is this a supplemental conveyancing fee specified by JPMorgan?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by JPMorgan but by your lawyers. Some firms on the JPMorgan will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
I have paid off my mortgage with JPMorgan. I assume I don't need a solicitor on the JPMorgan panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your JPMorgan 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 JPMorgan mortgage from the register. JPMorgan,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 JPMorgan has sent the Land Registry the discharge electronically, and
the JPMorgan has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your JPMorgan mortgage has been paid off.
I can not work out if my mortgage offer requires a lease extension . I have called JPMorgan on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the JPMorgan conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 requirements for JPMorgan. Unless your lawyer obtains specific confirmation in writing that JPMorgan will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask JPMorgan to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.