Landmark Mortgages Solicitor Panel Sample Enquires to our Call Center from members of the public
I am expecting a mortgage with Landmark Mortgages. I intend to instruct a Licensed Conveyancer. Does the Landmark Mortgages Conveyancing panel exclude Licensed Conveyancers
Landmark Mortgages’s approved solicitor list is, like many other lenders represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Our conveyancer has discovered a legal deficiency with the lease for the flat we are buying. The other side have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that as he is on the Landmark Mortgages conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or Landmark Mortgages?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Landmark Mortgages are the client. A precondition to being on the Landmark Mortgages approved panel is to comply with the CML Handbook requirements (last updated for this lender on Landmark Mortgages). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Landmark Mortgages can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . 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.
Are the lawyers identified as being on the Landmark Mortgages conveyancing panel, together with their details provided by Landmark Mortgages?
The firms themselves provide us confirmation that they are on the Landmark Mortgages conveyancing panel as opposed to being supplied with a list from Landmark Mortgages directly.
My aunt passed away last year and as sole heir and executor was left the property. The house had a relatively small loan remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Landmark Mortgages , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Landmark Mortgages will insist on your using a conveyancer on the Landmark Mortgages 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 Landmark Mortgages 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 Landmark Mortgages mortgage is registered as a charge at the Land Registry.
Is it the case that all conveyancing solicitors on the Landmark Mortgages conveyancing panel work on a no move no charge basis?
In the main there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have telephoned Landmark Mortgages on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Landmark Mortgages 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?
Your lawyer has to follow the CML Handbook Part 2 requirements for Landmark Mortgages. Unless your lawyer obtains specific confirmation in writing that Landmark Mortgages 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 Landmark Mortgages to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
Planning on purchasing a flat with a mortgage with Landmark Mortgages. 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 Landmark Mortgages 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 Landmark Mortgages conveyancing panel