FAQs : The Secure Trust Bank Conveyancing Panel
from members of the public
I have just been informed by my lender that my solicitor is not on the Secure Trust Bank Conveyancing panel. What can I do to check?
The first thing you need to do is to contact your lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for Secure Trust Bank.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Secure Trust Bank will not agree to this. Why was Secure Trust Bank even consulted?
Your lawyer being on the Secure Trust Bank conveyancing panel is duty bound to inform Secure Trust Bank of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Secure Trust Bank then they would have to discontinue acting for you and Secure Trust Bank.
Is it necessary during the course of the conveyancing process to visit the offices of the Secure Trust Bank conveyancing panel solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in London
so that I can attend their offices when needed.
Most conveyancing panel lawyers for Secure Trust Bank undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
We're in Birmingham, First time buyers buying with a mortgage (lender is Secure Trust Bank , but our solicitor is on the Secure Trust Bank conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Secure Trust Bank 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
Is there a list of Secure Trust Bank panel solicitors on the CML Handbook 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.
Planning on purchasing a house with a mortgage with Secure Trust Bank. 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 Secure Trust Bank 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 Secure Trust Bank conveyancing panel
At last I have had an offer on an apartment accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What should be my next step? At what point should I appy for the mortgage with Secure Trust Bank?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Secure Trust Bank conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Secure Trust Bank and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.