Keystone Property Finance Solicitor Panel Example Support Desk Enquires from members of the public
It has come to my attention via my broker that my lawyer is not on the Keystone Property Finance Solicitor panel. How can I be sure that this is correct?
The first thing you need to do is to contact your conveyancer. You lawyer should advise you of the situation. If they are not on the panel they may recommend you to a firm that is on the the approved Keystone Property Finance solicitor panel.
Our conveyancer has requested from me proof of ID documents stating that this is part of his requirements as a solicitor on the Keystone Property Finance Solicitor panel. Is this right?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that Keystone Property Finance also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Keystone Property Finance CML Handbook requirements last updated on Keystone Property Finance
Do banks and building societies provide you with an approved list of solicitors? How do you know who is on the Keystone Property Finance conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the Keystone Property Finance conveyancing panel as opposed to being supplied with a list from Keystone Property Finance directly.
My grandfather passed away six months ago and as sole heir and executor was left the house. The house had a relatively small loan left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Keystone Property Finance , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Keystone Property Finance will insist on your using a conveyancer on the Keystone Property Finance 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 Keystone Property Finance 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 Keystone Property Finance mortgage is registered as a charge at the Land Registry.
We have a mortgage agreed in principle with Keystone Property Finance. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from Keystone Property Finance?
Some lenders take longer than others. Have Keystone Property Finance done the valuation? Have you advised Keystone Property Finance as your lawyers details and checked that your lawyer is on the Keystone Property Finance conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
I have a mortgage with Keystone Property Finance. Conveyancing was finalised months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Keystone Property Finance?
Your original mortgage agreement with Keystone Property Finance will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Keystone Property Finance’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Keystone Property Finance directly. It should not be necessary to do this via a Keystone Property Finance conveyancing panel solicitor.
It is not clear whether my mortgage offer requires a lease extension . I have called Keystone Property Finance on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Keystone Property Finance conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Keystone Property Finance panel she or he must comply with the CML Handbook requirements for Keystone Property Finance. Unless your lawyer obtains specific confirmation in writing that Keystone Property Finance will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Keystone Property Finance to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.