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Ready to buy a new home? Failing to check that a lawyer is on the AprilMortgages 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 April Mortgages Conveyancing Panel? How can my firm be reinstated onto the April Mortgages Conveyancing Panel?Find an Approved Solicitor on the April Mortgages Conveyancing Panel
FAQs : The April Mortgages Conveyancing Panel
I am in the process of selling my flat and the estate agent has just called to advise that the purchasers are switching solicitor. I am told that this is due to the fact that April Mortgages will only work with solicitors on their conveyancing panel. Why would a major lender only engage with specific law firms?
Lenders have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Nationwide , have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Lenders point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
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 April Mortgages will not agree to this. Why was April Mortgages even consulted?
Your lawyer being on the April Mortgages conveyancing panel is duty bound to inform April Mortgages of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to April Mortgages then they would have to discontinue acting for you and April Mortgages.
How do I find a local solicitor on the April Mortgages conveyancing panel? I have a car and am prepared to travel up to 25 kilometers to meet the conveyancer.
You can use the find a conveyancing panel search on this page. 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 April Mortgages solicitor panel.
I was due to complete on my dream home last Friday. My lawyer’s firm is on the April Mortgages conveyancing panel but has changed address 8 weeks ago and had not advised April Mortgages of their new address. April Mortgages is now refusing to release my funds as the information from the solicitors isn't correct.
This is a rare situation indeed. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local April Mortgages branch or your mortgage broker to see if they can assist.
Do most banks 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 April Mortgages conveyancing panel requirements are different to April Mortgages’s conveyancing panel requirements.
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 called into my local branch April Mortgages on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the April Mortgages conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for April Mortgages. Unless your lawyer obtains specific confirmation in writing that April Mortgages 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 April Mortgages to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
April Mortgages have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up April Mortgages or your broker and complete any relevant paperwork. April Mortgages will tell you what documents they want. April Mortgages will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. April Mortgages will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
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