Frequently asked questions relating to the State Bank of India UK Solicitor Panel
from members of the public
My financial adviser has asked me for my law firm’s panel member for the State Bank of India UK conveyancing panel. Can you suggest how I discover this. I have e-mailed my local State Bank of India UK office but they don't know it.
the sensible thing to do is ask for this information from your solicitor. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for State Bank of India UK.
My solicitor has discovered an inconsistency when comparing the assumptions in State Bank of India UK’s valuation report and what is revealed within the title deeds. My lawyer informs me that as he is on the State Bank of India UK conveyancing panel he needs to check that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s stance correct?
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 both parties.
I need to find a State Bank of India UK panel solicitor in Stirling. Could you help me?
Unfortunately it’s not apparent why you need a State Bank of India UK panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to State Bank of India UK to find out which solicitors in State Bank of India UK are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
I was supposed to complete on my dream home yesterday. My solicitor is on the State Bank of India UK solicitors panel but has moved offices 8 weeks ago and had not informed State Bank of India UK of their new address. State Bank of India UK has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local State Bank of India UK branch or your mortgage broker to see if they can assist.
Do conveyancing lawyers on the State Bank of India UK conveyancing panel work on a no move no charge basis?
In the main there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. State Bank of India UK have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with State Bank of India UK your lawyer must to check the State Bank of India UK conveyancing instructions contained in the Part of CML Handbook for State Bank of India UK . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to State Bank of India UK where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
I currently have a mortgage with with State Bank of India UK. Conveyancing has been completed a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform State Bank of India UK?
State Bank of India UK must be informed of your intention prior to renting your property as this is likely to be a breach of State Bank of India UK’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact State Bank of India UK directly. You need not do this via a State Bank of India UK conveyancing panel solicitor.