West Bromwich Mortgage Company Solicitor Panel Recently Asked Questions from members of the public
I appointed a law firm to work on my house purchase 4 weeks ago having applied for a mortgage with West Bromwich Mortgage Company. The law firm confirmed to me that they are on West Bromwich Mortgage Company conveyancing panel and provided me their panel reference. West Bromwich Mortgage Company then ,via my broker advised that their panel number was dormant and would need to be reactivated. What happens next? Should I appoint a new solicitor currently on the conveyancing panel for West Bromwich Mortgage Company?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the West Bromwich Mortgage Company as to how long they think it will take to get the firm to get back on the panel.
Can you clarify something for me?. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from West Bromwich Mortgage Company was issued random date and we have agreed a date for me to move into the property on 10 days inc Day of week eg. Mon. My lawyer informs me that as she is on the West Bromwich Mortgage Company conveyancing panel she needs to reorder the searches as they are now out of date.
One of the many conditions to being on the West Bromwich Mortgage Company approved panel is to comply with the CML Handbook requirements (last updated for this lender on West Bromwich Mortgage Company)which states that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to West Bromwich Mortgage Company.
I am buying a flat and need a conveyancing solicitor in Leeds who is on the West Bromwich Mortgage Company solicitor. Can you recommend a local conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for West Bromwich Mortgage Company . We don’t recommend any particular firm.
The firm that I appointed last week on my house acquisition in Brighton has without warning shut down. They were on acting for me because I needed a firm on the West Bromwich Mortgage Company conveyancing panel and my family lawyer was not. I gave them a cheque for £150 in advance. What do I do now?
If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the West Bromwich Mortgage Company conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist
When it comes to mortgage companies such as West Bromwich Mortgage Company do lawyers have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I currently have a mortgage with with West Bromwich Mortgage Company. Conveyancing was finalised 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 buy-to-let mortgage or inform West Bromwich Mortgage Company?
You must advise West Bromwich Mortgage Company before letting out your property as this is likely to be a breach of West Bromwich Mortgage Company’s mortgage conditions. It may be that West Bromwich Mortgage Company 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 West Bromwich Mortgage Company directly. It should not be necessary to do this via a West Bromwich Mortgage Company conveyancing panel solicitor.
West Bromwich Mortgage Company 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 West Bromwich Mortgage Company or your broker and complete any relevant paperwork. West Bromwich Mortgage Company will tell you what documents they want. West Bromwich Mortgage Company 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. West Bromwich Mortgage Company 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.
