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Ready to buy a new home? Failing to check that a lawyer is on the Banks & Clients list of approved solicitors can put your transaction at risk of delay or failure.
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Q and A’s regarding the Banks and Clients Solicitor Panel
My mortgage broker has asked me for my solicitor’s panel member for the Banks and Clients conveyancing panel. What is the best way to find this out. I have called my local Banks and Clients branch but they don't know it.
You are best placed to get this information from your conveyancing lawyer. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Banks and Clients.
Our son-in-law is about to exchange on a new build apartment with a mortgage from Banks and Clients. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Banks and Clients conveyancing panel as a standard part of the process, and to the valuer 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 Banks and Clients conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I note that you have a post code search directory identifying solicitors on the Banks and Clients conveyancing panel. Do firms pay you a commission if I instruct them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Banks and Clients conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My grandmother passed away 10 months ago and as sole heir and executor was left the property. The house had a small mortgage left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Banks and Clients , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Banks and Clients will insist on your using a conveyancer on the Banks and Clients 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 Banks and Clients 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 Banks and Clients mortgage is registered as a charge at the Land Registry.
Is it the case that all conveyancing solicitors on the Banks and Clients conveyancing panel overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Banks and Clients conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I am currently in the process of buying my council flat. I have a mortgage offer with Banks and Clients. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Banks and Clients you will need to appoint a solicitor on the Banks and Clients conveyancing panel.
I currently have a mortgage with with Banks and Clients. Conveyancing has been completed 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 Banks and Clients?
Your original mortgage agreement with Banks and Clients will provide that you need their approval before renting your property as this is likely to be a breach of Banks and Clients’s mortgage conditions. In many cases banks or building societies will allow you to rent 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 Banks and Clients directly. It should not be necessary to do this via a Banks and Clients conveyancing panel lawyer.
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Transfer of Equity for Banks and ClientsPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors