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Ready to buy a new home? Failing to check that a lawyer is on the Topaz Finance 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 Topaz Finance plc Conveyancing Panel? How can my firm be reinstated onto the Topaz Finance plc Conveyancing Panel?Find an Approved Solicitor on the Topaz Finance plc Conveyancing Panel
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I need to swap lawyers as my lawyer is not on the Topaz Finance panel of conveyancing solicitors. Is it advisable to appoint a new law firm?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
My lawyer has uncovered a discrepancy when comparing the assumptions in Topaz Finance’s valuation report and what is revealed within the legal papers for the property. My solicitor has advised that as he is on the Topaz Finance conveyancing panel he is duty bound to ensure that the bank is with this discrepancy and is content go ahead. Is my lawyer’s course or action right?
A precondition to being on the Topaz Finance approved panel is to comply with the CML Handbook requirements (last updated for this lender on Topaz Finance) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am Googling for conveyancing quotes online. Can I be confident that all the practices that are listed on your directory are on the Topaz Finance conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have assured us via an online form that they are on the Topaz Finance panel and agreed to advise us to take down their listing in the event of removal off of the Topaz Finance panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific firm being on the Topaz Finance conveyancing panel is incorrect.
My solicitors in Leeds have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with Topaz Finance. Is it case that being on the Topaz Finance conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements 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 Topaz Finance Conveyancing Panel Terms. It might be worth you contacting Topaz Finance directly.
What are the common reasons for a lender such as Topaz Finance to withdraw a mortgage offer?
Lenders such as Topaz Finance can withdraw their mortgage offer although this rarely happens. If Topaz Finance withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are 5 examples:
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Where to proceed with the Mortgage offer would be unlawful
- Where the sale is not at arms length for value to unconnected persons
- If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
- If the solicitor on the Topaz Finance conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Topaz Finance ‘s instructions
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have telephoned Topaz Finance on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Topaz Finance 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 Topaz Finance panel she or he must comply with the CML Handbook requirements for Topaz Finance. Unless your lawyer obtains specific confirmation in writing that Topaz Finance 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 Topaz Finance to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
Intending to buy a flat with a mortgage with Topaz Finance. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Topaz Finance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Topaz Finance conveyancing panel
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Transfer of Equity for Topaz FinancePlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors