Examples of recent questions relating to the Keystone Property Finance Conveyancing Panel from members of the public
My Conveyancer is not on the Keystone Property Finance Solicitor Panel. Can I still retain my preferred solicitor even though they are excluded from the Keystone Property Finance list of approved lawyers?
The most common options here are as follows:
- Complete the purchase with your existing lawyers but Keystone Property Finance will need to instruct a lawyer on the Keystone Property Finance conveyancing panel. This will result in additional cost and potential delay.
- Get a new solicitor to act in the purchase, obviously checking they are on the Keystone Property Finance conveyancing panel.
- Convince your lawyer to do everything within their powers to join the Keystone Property Finance conveyancing panel
Our son is purchasing a house that has just been built with a mortgage from Keystone Property Finance. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 Keystone Property Finance conveyancing panel as a standard part of the process, and to the valuer when requested.
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 Keystone Property Finance 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 Keystone Property Finance conveyancing panel? I have a car and am prepared to travel up to 10 miles to meet the lawyer.
You can use the find a conveyancing panel search on this website. 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 Keystone Property Finance solicitor panel.
The lawyers that I recently instructed on my purchase in Brighton has without warning shut down. I only went with them because I had to have a firm on the Keystone Property Finance conveyancing panel and my previous lawyer was not. I paid them £200 on account. What do I do now?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Keystone Property Finance conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist
Is there a list of Keystone Property Finance panel conveyancers on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
Intending to buy a flat with a mortgage with Keystone Property Finance. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Keystone Property Finance 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 Keystone Property Finance conveyancing panel
I have instructed a lawyer having checked that they are on the Keystone Property Finance conveyancing panel. Does my lawyer arrange the survey of the property?
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I've digested plenty of mortgage guides,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Keystone Property Finance conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Keystone Property Finance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Keystone Property Finance will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
or
Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Keystone Property Finance you could contact your them to see if they have a list of approved surveyors.
