Frequently asked questions relating to the JPMorgan Solicitor Panel
from members of the public
My lawyer has never been on on the JPMorgan Approved Panel. Is it possible for me to continue with my preferred solicitor notwithstanding that they are not on the JPMorgan approved list?
You have a number of options available to you here:
- Complete the purchase with your existing solicitors but JPMorgan will need to instruct a lawyer on the JPMorgan conveyancing panel. This will result in additional cost and potential delay.
- Get a new solicitor to act in the purchase, obviously checking they are on the JPMorgan conveyancing panel.
- Convince your lawyer to do everything within their powers to join the JPMorgan conveyancing panel
I am due to move into my new home next Tuesday. 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 JPMorgan. What risks do JPMorgan expect the insurance to cover?
Any lawyer on the JPMorgan 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 JPMorgan’s Part 2 requirements of the CML Handbook (last updated on JPMorgan). Being on the JPMorgan conveyancing panel your lawyer is expect to follow these requirements.
I am searching for competitive conveyancing fees. Can I be sure that all the firms that are listed on your website are on the JPMorgan conveyancing panel?
The law firms listed on our site have advised us that they are on the JPMorgan panel and agreed to advise us to take down their listing in the event of removal off of the JPMorgan 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 JPMorgan conveyancing panel is not accurate.
My aunt passed away six months ago and as sole heir and executor was left the property. The house had a small mortgage remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to JPMorgan , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then JPMorgan will insist on your using a conveyancer on the JPMorgan conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your JPMorgan conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the JPMorgan mortgage is registered as a charge at the Land Registry.
We expect to receive a DIP from JPMorgan this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the JPMorgan recommend a solicitor on the JPMorgan conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the JPMorgan conveyancing panel. The solicitor represents both you and the JPMorgan through the process.
My husband and I are in the process of looking at apartments and now considering a potential offer. Should I already have a conveyancer appointed at this stage? I will be getting a home loan with JPMorgan
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 EA. As you are getting a mortgage with JPMorgan , ask your prospective lawyers check they are on the JPMorgan conveyancing panel otherwise they can't do the mortgage legal work.
I recently had an offer accepted on a house. My financial adviser suggested a solicitor I paid an upfront payment of 200. Soon after the conveyancers contacted me sheepishly admitting that they were not on the JPMorgan conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the JPMorgan panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.