Kensington Mortgage Conveyancing Panel Recently Asked Questions
from members of the public
My fiance and I are FTBs. Within the last couple of days our conveyancer has forwarded the sale agreement to sign with a detailed report in anticipation of exchanging contracts shortly. Kensington Mortgage have this evening contacted us to inform me that there is now an issue as our solicitor is not on their approved list of lawyers. What do we do from here?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme.
Your property lawyers should contact Kensington Mortgage and see if they can apply for membership of the Kensington Mortgage conveyancing panel, but if that is not viable Kensington Mortgage will instruct their own lawyers to represent them. You don't have to instruct a firm on the Kensington Mortgage conveyancing panel and you may continue to use your own solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Our son-in-law is in the process of securing a new build apartment with a home loan from Kensington Mortgage. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Kensington Mortgage conveyancing panel as a standard part of the process, and to the surveyor 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 Kensington Mortgage conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Are there any apps to help find a local solicitor on the Kensington Mortgage conveyancing panel? I have a car and am prepared to travel up to 20 kilometers to meet the solicitor.
You can use the find a conveyancing panel search on this page. 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 Kensington Mortgage solicitor panel.
I am buying a semi-detached house and getting a mortgage with Kensington Mortgage. Can I do my own 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.
We were going to get a DIP from Kensington Mortgage 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 Kensington Mortgage recommend a solicitor on the Kensington Mortgage 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 Kensington Mortgage conveyancing panel. The solicitor represents both you and the Kensington Mortgage through the process.
Planning on purchasing a house with a mortgage with Kensington Mortgage. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kensington Mortgage conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Kensington Mortgage conveyancing panel
I was told three weeks ago that my mortgage has been agreed
to by Kensington Mortgage. Is it usual for Kensington Mortgage to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Kensington Mortgage to deal with your lawyers application to be on the Kensington Mortgage conveyancing panel. There's no guarantee that your solicitors will be accepted.
