FAQs : The Zephyr Mortgages Solicitor Panel from members of the public
The conveyancer my fiance and I wanted to use for conveyancing on a remortgage said he would charge more if my mortgage is with Zephyr Mortgages due to their difficult processes! Am I likely to be frustrated using Zephyr Mortgages? Any comments will be appreciated
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 due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Zephyr Mortgages will not agree to this. Why was Zephyr Mortgages even consulted?
Your lawyer being on the Zephyr Mortgages conveyancing panel is duty bound to inform Zephyr Mortgages of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Zephyr Mortgages then they would have to discontinue acting for you and Zephyr Mortgages.
I have checked 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.
The solicitors that I recently instructed on my house acquisition in Manchester has suddenly shut down. I chose them because I needed a firm on the Zephyr Mortgages conveyancing panel and my preferred lawyer was not. I gave them a cheque for £150 in advance. What are my options?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will 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 Zephyr Mortgages 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 may be able to help
I had instructed online solicitors based in London who are on the Zephyr Mortgages solicitor panel. They have just invoiced me a separate fee of £135 for the legal aspects of the Zephyr Mortgages mortgage. Is this an additional conveyancing fee set by Zephyr Mortgages?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Zephyr Mortgages but by your lawyers. Some firms on the Zephyr Mortgages will charge an ‘acting for lender’ fee and others do not.
I have a mortgage with Zephyr Mortgages. My grandfather retired last week and wants to pay off the mortgage left on the property. After Zephyr Mortgages is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Zephyr Mortgages conveyancing panel? I do not intend to live at the property once the Zephyr Mortgages mortgage is discharged.
You
will need a solicitor but they need not be on the Zephyr Mortgages conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
After much negotiation I have agreed a price on a house. My mortgage broker suggested a solicitor I paid an upfront payment of 200. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Zephyr Mortgages conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Zephyr Mortgages panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.