FAQs for the Topaz Finance Solicitor Panel from members of the public
My Solicitor is not on the Topaz Finance Conveyancing Panel. Can I still retain my family solicitor notwithstanding that they are not on the Topaz Finance list of approved lawyers?
The most common options here are as follows:
- Complete the purchase with your preferred solicitors but Topaz Finance will need to instruct a lawyer on the Topaz Finance conveyancing panel. This will result in additional cost and potential delay.
- Get a new solicitor to act in the purchase, obviously checking they are on the Topaz Finance conveyancing panel.
- Urge your lawyer to apply to join the Topaz Finance lender panel
can you help? My conveyancer is informing me me that he has to conduct a Local Authority search stemming from the fact that the firm are on the Topaz Finance conveyancing panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with Topaz Finance your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Topaz Finance’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Topaz Finance. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Topaz Finance conveyancing panel. My lawyer has said that they are on the Topaz Finance approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Topaz Finance conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Topaz Finance solicitor panel.
I was expecting to complete on my first house two days ago. My solicitor is on the Topaz Finance solicitors panel but has moved offices in the past couple of months and had not advised Topaz Finance of their new address. Topaz Finance has locked down the release of mortgage funds as the information from the solicitors isn't correct.
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 Topaz Finance branch or your mortgage broker to see if they can assist.
Is it the case that all conveyancing lawyers on the Topaz Finance conveyancing panel work on a no sale no fee 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 package
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Topaz Finance. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Topaz Finance you will need to appoint a solicitor on the Topaz Finance conveyancing panel.
Topaz Finance 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 Topaz Finance or your broker and complete any relevant paperwork. Topaz Finance will tell you what documents they want. Topaz Finance 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. Topaz Finance 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.