Kensington Mortgage Conveyancing Panel : Questions and Answers from members of the public
Is there a reason why all solicitors are not on the Kensington Mortgage Conveyancing panel?
Kensington Mortgage and other mortgage companies normally restrict either the type or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Kensington Mortgage have no responsibility for the quality of advice provided by any member of Kensington Mortgage Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
Please help. My lawyer is assuring me that he has to conduct a Local Authority search as the firm are on the Kensington Mortgage solicitor panel. The searches cost a lot of money. Can this be avoided?
You have limited options available to you. As you are taking a mortgage with Kensington Mortgage 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 Kensington Mortgage’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Kensington Mortgage. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Do all the firms listed on your directory have online case tracking as I understood that this was a condition of being on the Kensington Mortgage conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I am attempting to get my ex-husband removed the mortgage deeds. Can Kensington Mortgage really tell me which solicitor I can or can not instruct?
You can use any solicitor you like but Kensington Mortgage then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Kensington Mortgage solicitors panel
When it comes to lenders such as Kensington Mortgage do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
is it true that all solicitors on the Kensington Mortgage conveyancing panel regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Kensington Mortgage conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
How can we tell if a solicitor on the Kensington Mortgage panel is any good?
obtaining recommendations is a sensible starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer conducting your conveyancing