Common questions asked concerning the State Bank of India UK Solicitor Panel
from members of the public
I instructed a solicitor to work on my remortgage six weeks ago having applied for a mortgage with State Bank of India UK. The solicitors assured me that they are on State Bank of India UK conveyancing panel and advised me their panel number. State Bank of India UK then ,via my broker advised that their panel number was dormant and would need to be reactivated. What do I do from here? Should I appoint a new solicitor currently on the conveyancing panel for State Bank of India UK?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the State Bank of India UK conveyancing panel You may wish to enlist the help of your broker to check with the State Bank of India UK as to how long they think it will take to get the firm to get back on the panel.
My solicitor has uncovered a discrepancy when comparing the information in State Bank of India UK’s valuation report and what is revealed within the title deeds. My solicitor says that as he is on the State Bank of India UK conveyancing panel he must ensure that the bank is happy with this discrepancy and is still content to lend. Is my conveyancer’s approach appropriate?
A precondition to being on the State Bank of India UK approved panel is to comply with the CML Handbook requirements (last updated for this lender on State Bank of India UK) 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 you.
I note that you have a post code search directory listing law firms on the State Bank of India UK conveyancing panel. Do firms pay you a commission if I instruct them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the State Bank of India UK conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My conveyancers in Newcastle have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with State Bank of India UK. Is it case that being on the State Bank of India UK conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the State Bank of India UK Conveyancing Panel Terms. It might be worth you contacting State Bank of India UK directly.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the State Bank of India UK conveyancing panel?
Some major lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives 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 remain on their approved list of firms.
After shopping around on the internet I have found a solicitor having checked that they are on the State Bank of India UK conveyancing panel. Does my lawyer arrange the survey of the property?
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Having read lots of house buying,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the State Bank of India UK conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
State Bank of India UK will need an independent valuation of the property. Your lawyer will not arrange this. Usually State Bank of India UK will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with State Bank of India UK you could contact your them to see if they have a list of approved surveyors.
My husband and I are remortgaging a garden flat in Hendon. Conveyancing solicitors in Hendon will soon beinstructed. My fatheradvised that we make sure that the property lawyer in Hendon is on the State Bank of India UK list of approved conveyancing firms. Aren't all lawyers on the State Bank of India UK panel?
Far from all Hendon conveyancing solicitors are on the State Bank of India UK conveyancing panel. 8 people a month use our search tool to search for a
Hendon conveyancing firm on the on the State Bank of India UK solicitors pane.