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Kensington Mortgage Conveyancing Panel : Questions and Answers
I have been advised by my broker that I have to pay Kensington Mortgage fees should I instruct my family lawyer. How good are the Kensington Mortgage conveyancing panel solicitors? I dont care which law firm I use as long as they're good and not exorbitantly priced. Are there any Kensington Mortgage conveyancers you'd recommend?
Kensington Mortgage’s conveyancing panel is pretty large so your best bet is just to check with the firms you are getting quotes from whether they are on it. You can search by postcode on the search tool on this site to find solicitors that Kensington Mortgage will allow to act for them.
Our conveyancer has identified a defect with the lease for the apartment we are purchasing. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor has advised that as he is on the Kensington Mortgage conveyancing panel he must check that the lender is happy with this solution. Are we the client or is Kensington Mortgage?
Just because you have a mortgage offer from Kensington Mortgage 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 Kensington Mortgage are the client. These conveyancing instructions must be adhered to by the Kensington Mortgage conveyancing panel who has to balance acting for you and Kensington Mortgage
How do I search for a local solicitor on the Kensington Mortgage conveyancing panel? I have a car and am prepared to travel up to 25 kilometers to meet the lawyer.
Feel free to make use of the find a conveyancing panel tool on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Kensington Mortgage solicitor panel.
I am considering remortgaging my house does my lawyer need to be on the Kensington Mortgage Solicitor panel?
There is nothing to stop you using your solicitor but Kensington Mortgage 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.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Kensington Mortgage have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Kensington Mortgage your lawyer must to check the Kensington Mortgage conveyancing instructions contained in the Part of CML Handbook for Kensington Mortgage . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Kensington Mortgage where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
Is it common for Kensington Mortgage to withdraw a mortgage offer and what would be the reasoning?
Banks and Building Societies such as Kensington Mortgage can revoke their mortgage offer although this is unusual. should Kensington Mortgage withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are a number of examples:
- Where information comes to Kensington Mortgage ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- Kensington Mortgage may amend or withdraw an offer if the Kensington Mortgage conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- If the financial circumstances of the borrower have changed to the detriment and the Kensington Mortgage has been notified
- If the borrower informs Kensington Mortgage of a change in security address
- Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called Kensington Mortgage on numerous occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Kensington Mortgage conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Kensington Mortgage panel she or he must comply with the CML Handbook requirements for Kensington Mortgage. Unless your lawyer obtains specific confirmation in writing that Kensington Mortgage will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Kensington Mortgage to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
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