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approved by keystonePropertyFinance
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
Frequently asked questions relating to the Keystone Property Finance Conveyancing Panel
Is there a reason why all property lawyers are not 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
I am buying a new build apartment and my lawyer is advising me that she is duty bound to reveal incentives from the seller as her firm is on the Keystone Property Finance conveyancing panel. I am under pressure to exchange contracts and my preference is not to prolong matters. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Keystone Property Finance approved panel is to comply with the CML Handbook requirements (last updated for this lender on Keystone Property Finance). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am searching for competitive conveyancing fees. Can I be assured that all the firms that are listed on your directory are on the Keystone Property Finance conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have assured us via an online form that they are on the Keystone Property Finance panel and agreed to advise us to take down their listing in the event of removal off of the Keystone Property Finance panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Keystone Property Finance conveyancing panel is incorrect.
My solicitors in Newcastle have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with Keystone Property Finance. Is it case that being on the Keystone Property Finance conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Keystone Property Finance Conveyancing Panel Terms. It might be worth you contacting Keystone Property Finance directly.
Is there a list of Keystone Property Finance panel conveyancers on the Building Society Association’s 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.
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 Keystone Property Finance conveyancing panel requirements are different to Keystone Property Finance’s conveyancing panel requirements.
On the whole I have been dissatisfied with the level or service received from my lawyer. Is there a Keystone Property Finance conveyancing panel complaints department or do I complain directly to the law firm?
Complaining to Keystone Property Finance about their conveyancing panel is unlikely to yield much of a response. All solicitors and conveyancer must have a complaints procedure. Usually one can find this information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is properly dealt with by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.