Common questions asked concerning the Zephyr Mortgages Conveyancing Panel from members of the public
I am in the process of selling my house and the EA has just e-mailed to advise that the buyers are changing their property lawyer. I am told that this is due to the fact that Zephyr Mortgages will only deal with property lawyers on their approved list. On what basis would a big named lender only work with certain solicitors?
Lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks blame a rise in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
Our grandson is in the process of securing a newly built flat with a home loan from Zephyr Mortgages. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Zephyr Mortgages conveyancing panel as a standard part of the process, and to the surveyor when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Zephyr Mortgages conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have been looking for conveyancing quotes online. Can I be sure that all the practices that are identified on your website are on the Zephyr Mortgages conveyancing panel?
The law firms listed on our site have assured us via an online form that they are on the Zephyr Mortgages panel and agreed to advise us to take down their listing in the event of removal off of the Zephyr Mortgages panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific firm being on the Zephyr Mortgages conveyancing panel is not accurate.
I am in the process of remortgaging my home does my lawyer need to be on the Zephyr Mortgages Conveyancing panel?
There is nothing to stop you using your solicitor but Zephyr Mortgages will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
When it comes to mortgage companies such as Zephyr Mortgages do solicitors have to be pay a fee to be on the list of approved solicitors?
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.
After shopping around on the internet I have found a solicitor having made sure that they are on the Zephyr Mortgages conveyancing panel. Does my lawyer arrange the survey of the property?
Or
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 Zephyr Mortgages conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Zephyr Mortgages will need an independent valuation of the property. Your lawyer will not arrange this. Usually Zephyr Mortgages 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.
or
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 Zephyr Mortgages you could contact your them to see if they have a list of approved surveyors.
My ex -wife’s name is on the Zephyr Mortgages mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Zephyr Mortgages mortgage in order to sell?
As regards the Zephyr Mortgages mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Zephyr Mortgages in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
