Zephyr Mortgages Solicitor Panel Recently Asked Questions from members of the public
The conveyancer my fiance and I wanted to use for conveyancing on a remortgage said she will levy higher legal fees if my lender is due to their difficult processes! Am I likely to be frustrated using Zephyr Mortgages? Is Zephyr Mortgages conveyancing so much more difficult?
Zephyr Mortgages 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 Zephyr Mortgages conveyancing panel. If they are not, this does add further risk of delay as Zephyr Mortgages will appoint their own solicitors to look after their interest.
We are approaching an exchange and my mum and dad having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Zephyr Mortgages. Apparently, being on the Zephyr Mortgages conveyancing panel and acting on their behalf he must inform Zephyr Mortgages if the balance of the mortgage advance is not just from me. I advised the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Zephyr Mortgages to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Zephyr Mortgages if you agree, failing which, your lawyer must cease to continue acting.
I have been searching for conveyancing quotes online. Can I be confident that all the law firms that are identified on your site are on the Zephyr Mortgages conveyancing panel?
The law firms on our directory have advised us 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 incorrect.
I am considering applying for a Zephyr Mortgages mortgage for purchase of a new build (under development) with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Zephyr Mortgages?
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 an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Do the majority of lenders 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 Zephyr Mortgages conveyancing panel requirements are different to Zephyr Mortgages’s conveyancing panel criteria.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Zephyr Mortgages are being a right pain. The solicitor who is on the Zephyr Mortgages conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Zephyr Mortgages are requiring a building regulation certificate. Why do Zephyr Mortgages have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Zephyr Mortgages have referred the matter to their valuer. The reason why Zephyr Mortgages may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What should be my next step? At what point should I appy for the mortgage with Zephyr Mortgages?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Zephyr Mortgages conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Zephyr Mortgages and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.