FAQs : The Kensington Mortgage Solicitor Panel from members of the public
I would like to know the reason why all solicitors aren't included on the Kensington Mortgage Solicitor panel?
Mortgage companies point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year. The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging less reputable firms off their books
My conveyancer has identified an inconsistency when comparing the information in Kensington Mortgage’s home valuation report and what is in the legal papers for the property. My solicitor says that as he is on the Kensington Mortgage conveyancing panel he is obliged to ensure that the lender is happy with this discrepancy and is content go ahead. Is my solicitor’s course or action legitimate?
A precondition to being on the Kensington Mortgage approved panel is to comply with the CML Handbook requirements (last updated for this lender on Kensington Mortgage) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Whilst your website is a good idea there are many lawyers listed near London on the Kensington Mortgage conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Kensington Mortgage approved panel?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
I am purchasing a right to buy flat and getting a mortgage with Kensington Mortgage. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Kensington Mortgage conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Kensington Mortgage conveyancing panel in your location.
My fiance and I are in the throws of looking at flats and am about to put in an offer. Should I already have a conveyancer appointed at this stage? I intend to finance via a mortgage with Kensington Mortgage
It would be sensible to have your start your search soon rather than later. 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 estate agent. As you are getting a mortgage with Kensington Mortgage , make sure you remember to check that your lawyer is on the Kensington Mortgage conveyancing panel.
I have paid off my mortgage with Kensington Mortgage. I assume I don't need a solicitor on the Kensington Mortgage panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Kensington Mortgage 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 Kensington Mortgage mortgage from the register. Kensington Mortgage,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 Kensington Mortgage has sent the Land Registry the discharge electronically, and
the Kensington Mortgage has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Kensington Mortgage mortgage has been paid off.
My offer on house has been accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What do I do now? At what point should I appy for the mortgage with Kensington Mortgage?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Kensington Mortgage conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Kensington Mortgage and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.