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approved by First Trust Bank
Ready to buy a new home? Failing to check that a lawyer is on the First Trust Bank list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the First Trust Bank Conveyancing Panel? How can my firm be reinstated onto the First Trust Bank Conveyancing Panel?Find an Approved Solicitor on the First Trust Bank Conveyancing Panel
Q and A’s regarding the First Trust Bank Solicitor Panel
A lawyer my fiance and I had intended to instruct on a purchase said he will levy higher legal fees if my lender is because of their unusual legal requirements. Will I regret using First Trust Bank? Any comments will be appreciated
First Trust Bank 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 First Trust Bank conveyancing panel. If they are not, this does add further risk of delay as First Trust Bank will appoint their own solicitors to look after their interest.
We are approaching an exchange and my parents 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 disclose this to my lender First Trust Bank. I am advised that, being on the First Trust Bank conveyancing panel and acting on their behalf he must inform First Trust Bank if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the home loan so is it really necessary for him to raise this?
Your lawyer is obliged to check with First Trust Bank 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 First Trust Bank if you agree, failing which, your lawyer must cease to continue acting.
Are the lawyers identified as being on the First Trust Bank conveyancing panel, together with their details provided by First Trust Bank?
The firms themselves provide us confirmation that they are on the First Trust Bank conveyancing panel as opposed to being supplied with a list from First Trust Bank directly.
I am considering refinancing my house does my lawyer have to be on the First Trust Bank Conveyancing panel?
In theory, you could use a solicitor that is not on First Trust Bank conveyancing panel, but First Trust Bank would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
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 First Trust Bank conveyancing panel requirements are different to First Trust Bank’s conveyancing panel criteria.
Hi, thinking about buying a house off my mate. Once we agree a price, what’s the best way to move forward? I plan to obtain a mortgage with First Trust Bank. Is there anyway to cut out the solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with First Trust Bank involved you will need to appoint a solicitor on the First Trust Bank conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to First Trust Bank. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the First Trust Bank conveyancing panel.
I have had an offer accepted on a house I spoke to a conveyancer recommended by my uncle and he recommended using a law firm approved by First Trust Bank. The estate agent recommended two local firms so I asked First Trust Bank if the 2 suggested solicitors are approved, which they are not. First Trust Bank suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of First Trust Bank 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of First Trust Bank to suggest a law firm in your location. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the First Trust Bank conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto First Trust Bank conveyancing panel as it may only take about 2-3 weeks. As long as they meet First Trust Bank’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
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