LiveMore Conveyancing Panel Example Support Desk Enquires
from members of the public
My partner and I are novices when it comes to buying a property. Within the 48 hours our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. LiveMore have this morning contacted us to advise us that they have now hit a problem as our lawyer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit 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 solicitors should contact LiveMore and see if they can apply for membership of the LiveMore conveyancing panel, but if that is not viable LiveMore will instruct their own lawyers to represent them. You don't have to instruct a firm on the LiveMore 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 have another set of people involved.
My wife and I are refinancing our penthouse with LiveMore. We have a son 19 who lives with us. The solicitor on the LiveMore conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have two questions (1) Is this form unique to the LiveMore conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your LiveMore conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to LiveMore .This is solely used to protect the LiveMore if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of LiveMore had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Are the lawyers identified as being on the LiveMore conveyancing panel, together with their details provided by LiveMore?
The firms themselves provide us confirmation that they are on the LiveMore conveyancing panel as opposed to being supplied with a list from LiveMore directly.
We're in Liverpool, First time buyers buying with a mortgage (lender is LiveMore , but our lawyer is on the LiveMore conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the LiveMore conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Two weeks ago we had a mortgage agreed in principle with LiveMore. Solicitors have been chosen? What is the average time that one could expect to receive a mortgage offer from LiveMore?
Some lenders take longer than others. Have LiveMore completed the valuation? Have you advised LiveMore as your lawyers details and checked that your lawyer is on the LiveMore conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
I have today made my last payment due on mortgage with LiveMore. I assume I don't need a solicitor on the LiveMore panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your LiveMore 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 LiveMore mortgage from the register. LiveMore,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 LiveMore has sent the Land Registry the discharge electronically, and
the LiveMore has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your LiveMore mortgage has been paid off.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with LiveMore. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with LiveMore you will need to appoint a solicitor on the LiveMore conveyancing panel.