Q and A’s regarding the Platform Home Loans Solicitor Panel
from members of the public
My financial adviser has informed me that I have to pay Platform Home Loans fees should I instruct my family lawyer. How efficient are the Platform Home Loans conveyancing panel solicitors? I'm happy to use any solicitor in the country TBH as long as they're good and not exorbitantly priced. Would you recommend a specific law firm on the Platform Home Loans panel?
Platform Home Loans’s conveyancing panel is substantial so it would be advisable to check with the firms you are getting quotes from that they are on the panel. You can search by postcode on the search tool on this site to find solicitors that Platform Home Loans will allow to act for them.
I am purchasing a new build duplex and my solicitor is advising me that she is duty bound to reveal incentives from the developer as her firm is on the Platform Home Loans conveyancing panel. I am nearing the developer’s deadline to exchange and I have no desire to prolong matters. Can I insist on an exchange regardless of what my lawyer says about being on the Platform Home Loans panel?
You should not exchange unless you have advised to do so by your lawyer. 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). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Platform Home Loans solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
My grandfather passed away last year and as sole heir and executor was left the property. The house had a small mortgage left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Platform Home Loans , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Platform Home Loans will insist on your using a conveyancer on the Platform Home Loans 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 Platform Home Loans 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 Platform Home Loans mortgage is registered as a charge at the Land Registry.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Platform Home Loans conveyancing panel?
It is true that some lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
Intending to buy a flat with a mortgage with Platform Home Loans. 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 Platform Home Loans 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 Platform Home Loans conveyancing panel
My ex -wife’s name is on the Platform Home Loans mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Platform Home Loans mortgage in order to sell?
As regards the Platform Home Loans mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Platform Home Loans in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.