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Ready to buy a new home? Failing to check that a lawyer is on the Kent Reliance 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 Kent Reliance (a trading name of OneSavings Bank plc) Conveyancing Panel? How can my firm be reinstated onto the Kent Reliance (a trading name of OneSavings Bank plc) Conveyancing Panel?Find an Approved Solicitor on the Kent Reliance (a trading name of OneSavings Bank plc) Conveyancing Panel
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Can you please explain the reason why all solicitors are not on the Kent Reliance Conveyancing panel?
Lenders point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year. The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging less reputable firms off their books
I am due to complete my purchase next Tuesday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for Kent Reliance. What does the insurance need to cover?
All property lawyers on the Kent Reliance conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Kent Reliance’s Part 2 requirements of the CML Handbook (last updated on Kent Reliance). Being on the Kent Reliance conveyancing panel your lawyer is expect to follow these requirements.
Is it necessary during the course of the conveyancing process to attend the offices of the Kent Reliance conveyancing panel solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in London
so that I can attend their offices if necessary.
As opposed to ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in London
.
My uncle passed away six 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 have the title changed into my name whilst I re-mortgage to Kent Reliance , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Kent Reliance will insist on your using a conveyancer on the Kent Reliance 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 Kent Reliance 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 Kent Reliance mortgage is registered as a charge at the Land Registry.
Can you point me to a directory of Kent Reliance panel conveyancers on the CML Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
I had instructed online solicitors based in Cardiff who are on the Kent Reliance solicitor panel. They have just invoiced me a separate fee of £175 for the legal aspects of the Kent Reliance mortgage. Is this a supplemental conveyancing fee specified by Kent Reliance?
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 Kent Reliance but by your lawyers. Some firms on the Kent Reliance will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
My husband and I are at the point of viewing apartments and now considering a potential offer. Should I already have a conveyancer appointed at this stage? I intend to finance via a home loan with Kent Reliance
It would be sensible to have your start your search soon rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Kent Reliance , make sure you remember to check that your lawyer is on the Kent Reliance conveyancing panel.
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