FAQs for the JPMorgan Solicitor Panel
from members of the public
Is there a reason why all solicitors are not on the JPMorgan Conveyancing panel?
As unjust as it may seem for JPMorgan to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern JPMorgan have restricted their conveyancing panel to a manageable size. The JPMorgan solicitor panel is not the most exclusive of all lenders
Our grandson is in the process of securing a house that has just been built with a mortgage from JPMorgan. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the JPMorgan conveyancing panel as a standard part of the process, and to the valuer when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the JPMorgan conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I require the services of a JPMorgan panel solicitor in Inverness. Can you assist?
It is not clear why you need a JPMorgan panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to JPMorgan to find out which solicitors in JPMorgan are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
My aunt passed away six months ago and as sole heir and executor was left the house. The house had a relatively small loan 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.
I previously instructed online solicitors based in London who are on the JPMorgan solicitor panel. They are now charging me a separate fee of £150 for dealing with the JPMorgan mortgage. Is this a supplemental conveyancing fee set 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 and others do not.
I am about to exchange contracts on a purchase with a mortgage from JPMorgan. The report from my solicitor mentions that JPMorgan could withdraw their offer before completion. Is this right?
Lenders such as JPMorgan can revoke their mortgage offer although this rarely happens. should JPMorgan withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are 5 examples:
Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that JPMorgan conveyancing panel solicitors would be obliged to notify JPMorgan of a change in the price of the property.
A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
Where to proceed with the Mortgage offer would be unlawful
If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
My ex -wife’s name is on the JPMorgan mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the JPMorgan mortgage in order to sell?
As regards the JPMorgan mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of JPMorgan in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.