Topaz Finance Conveyancing Panel Sample Enquires to our Call Center from members of the public
The solicitor my husband and I wanted to use for conveyancing on a remortgage said he would charge more if my lender is due to their unusual legal requirements. Am I likely to be frustrated using Topaz Finance? Any comments will be appreciated
Topaz Finance conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Topaz Finance conveyancing panel. If they are not, this does add further risk of delay as Topaz Finance will appoint their own solicitors to look after their interest.
Our solicitor has discovered a legal deficiency with the lease for the property we are purchasing. The other side have put forward defective title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer has advised that as he is on the Topaz Finance conveyancing panel he must check that the lender is happy with this solution. Are we the client or is Topaz Finance?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Topaz Finance are the client. A precondition to being on the Topaz Finance approved panel is to comply with the CML Handbook requirements (last updated for this lender on Topaz Finance). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Topaz Finance can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . 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 have been looking for competitive conveyancing fees. Can I be assured that all the firms that are listed on your website are on the Topaz Finance conveyancing panel?
The law firms on our directory have assured us via an online form that they are on the Topaz Finance panel and agreed to advise us to take down their listing in the event of removal off of the Topaz Finance panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Topaz Finance conveyancing panel is not accurate.
I was scheduled to complete on my dream home two days ago. My solicitor is on the Topaz Finance conveyancing panel but has changed address in the past couple of months and had not informed Topaz Finance of their new address. Topaz Finance 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. Most 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 Topaz Finance branch or your mortgage broker to see if they can help.
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Topaz Finance conveyancing panel requirements are different to Topaz Finance’s conveyancing panel criteria.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Topaz Finance be concerned
As you are obtaining a mortgage with Topaz Finance your lawyer must to check the Topaz Finance conveyancing instructions contained in the Part of CML Handbook for Topaz Finance . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Topaz Finance 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 was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to proceed? I hope to get a mortgage with Topaz Finance. Is it possible to avoid using solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Topaz Finance involved you will need to appoint a solicitor on the Topaz Finance conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Topaz Finance. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Topaz Finance conveyancing panel.
