FAQs : The St James Place Conveyancing Panel from members of the public
We are purchasing a 3 bedroom apartment in London with a mortgage from St James Place. We would like to retain our solicitor but St James Place says he's not on their "panel". We have to appoint one of the St James Place panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the St James Place conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for St James Place
My property lawyer has requested from me personal identification documents stating that this is part of his legal duty as a conveyancer on the St James Place Conveyancing panel. Am I being spun a yarn?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with St James Place your lawyer also has to check ID documents to satisfy St James Place
Your search tool is useful but there are many lawyers listed near Hackney on the St James Place conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for St James Place ?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I am considering applying for a St James Place mortgage for purchase of a newly converted (under development) with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for St James Place?
In theory, you could use a solicitor that is not on St James Place conveyancing panel, but St James Place would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Can you point me to a directory of St James Place 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.
I have paid off my mortgage with St James Place. I assume I don't need a solicitor on the St James Place panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your St James Place 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 St James Place mortgage from the register. St James Place,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 St James Place has sent the Land Registry the discharge electronically, and
the St James Place has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your St James Place mortgage has been paid off.
St James Place have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up St James Place or your broker and complete any relevant paperwork. St James Place will tell you what documents they want. St James Place will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. St James Place will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
