Zephyr Mortgages Solicitor Panel Example Support Desk Enquires
from members of the public
For what reasons would a firm of solicitors be excluded from the Zephyr Mortgages solicitor panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been excluded from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Zephyr Mortgages
Our solicitor has identified a defect with the lease for the property we are buying. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer says that as he is on the Zephyr Mortgages conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is Zephyr Mortgages?
Just because you have a mortgage offer from Zephyr Mortgages does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Zephyr Mortgages are the client. The appropriate lender requirements must be adhered to by the Zephyr Mortgages conveyancing panel who has to balance acting for you and Zephyr Mortgages
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Zephyr Mortgages conveyancing panel. My lawyer has said that they are on the Zephyr Mortgages 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 Zephyr Mortgages 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 Zephyr Mortgages solicitor panel.
My grandmother passed away six months ago and as sole heir and executor was left the house. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Zephyr Mortgages , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Zephyr Mortgages will insist on your using a conveyancer on the Zephyr Mortgages conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Zephyr Mortgages conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Zephyr Mortgages mortgage is registered as a charge at the Land Registry.
Are all Conveyancing Quality Solicitors on the Zephyr Mortgages conveyancing panel?
It is true that some lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
How can we tell if a solicitor on the Zephyr Mortgages panel is any good?
seeking recommendations is a sensible start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer conducting your transaction
Planning on purchasing a house with a mortgage with Zephyr Mortgages. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Zephyr Mortgages conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Zephyr Mortgages conveyancing panel