Platform Home Loans Conveyancing Panel Sample Enquires to our Call Center from members of the public
Can you please explain the reason why all UK lawyers are not on the Platform Home Loans Solicitor panel?
Platform Home Loans and other banks tend to restrict either the type or the number of conveyancing firms on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Platform Home Loans have no responsibility for the quality of advice provided by any member of Platform Home Loans Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
My solicitor has spotted a discrepancy between the information in Platform Home Loans’s valuation survey and what is in the title deeds. My solicitor informs me that as he is on the Platform Home Loans conveyancing panel he needs to ensure that the lender is with this discrepancy and is still content to lend. Is my lawyer’s course or action appropriate?
A precondition to being on the Platform Home Loans approved panel is to comply with the CML Handbook requirements (last updated for this lender on Platform Home Loans) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Do all mortgage companies provide you with an approved list of solicitors? How do you know who is on the Platform Home Loans conveyancing panel?
The firms themselves provide us confirmation that they are on the Platform Home Loans conveyancing panel as opposed to being supplied with a list from Platform Home Loans directly.
Please explain the implications if my lawyer’s firm is suspended from the Platform Home Loans Conveyancing panel in advance of the moving date as agreed at exchange of contracts?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Platform Home Loans have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Platform Home Loans your lawyer must to check the Platform Home Loans conveyancing instructions contained in the Part of CML Handbook for Platform Home Loans . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Platform Home Loans where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
I have today made my last payment due on mortgage with Platform Home Loans. I assume I don't need a solicitor on the Platform Home Loans panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Platform Home Loans 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 Platform Home Loans mortgage from the register. Platform Home Loans,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 Platform Home Loans has sent the Land Registry the discharge electronically, and
the Platform Home Loans has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Platform Home Loans mortgage has been paid off.
Next month my fiance and I are remortgaging a flat in Hendon. Conveyancing solicitors in Hendon are preferred to begiven the go-ahead. My fatheradvised that we enquire that the solicitor in Hendon is on the Platform Home Loans panel. Is this really necessary?
A limited percentage of Hendon conveyancing firms are on the Platform Home Loans conveyancing panel. Click here to search for a Hendon conveyancing practitioner on the on the Platform Home Loans panel.