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Ready to buy a new home? Failing to check that a lawyer is on the keystonePropertyFinance 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 Keystone Property Finance Conveyancing Panel? How can my firm be reinstated onto the Keystone Property Finance Conveyancing Panel?Find an Approved Solicitor on the Keystone Property Finance Conveyancing Panel
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Is there a reason why all property lawyers aren't included on the Keystone Property Finance Solicitor 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
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 Keystone Property Finance will not agree to this. Why was Keystone Property Finance even consulted?
Your lawyer being on the Keystone Property Finance conveyancing panel is duty bound to inform Keystone Property Finance of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Keystone Property Finance then they would have to discontinue acting for you and Keystone Property Finance.
I need to find a Keystone Property Finance panel solicitor in Belfast. Could you help me?
Unfortunately it’s not apparent why you need a Keystone Property Finance panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Keystone Property Finance to find out which solicitors in Keystone Property Finance are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
We're in Birmingham, First time buyers buying with a mortgage (lender is Keystone Property Finance , but our lawyer is on the Keystone Property Finance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Keystone Property Finance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Keystone Property Finance have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Keystone Property Finance your lawyer must to check the Keystone Property Finance conveyancing instructions contained in the Part of CML Handbook for Keystone Property Finance . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Keystone Property Finance 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.
I have today made my last payment due on mortgage with Keystone Property Finance. I assume I don't need a solicitor on the Keystone Property Finance panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Keystone Property Finance mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Keystone Property Finance mortgage from the register. Keystone Property Finance,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Keystone Property Finance has sent the Land Registry the discharge electronically, and
the Keystone Property Finance has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Keystone Property Finance mortgage has been paid off.
After shopping around on the internet I have found a solicitor having checked that they are on the Keystone Property Finance conveyancing panel. Does my lawyer arrange the survey of the property?
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Having read lots of house buying,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Keystone Property Finance conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Keystone Property Finance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Keystone Property Finance will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
or
Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Keystone Property Finance you could contact your them to see if they have a list of approved surveyors.