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Ready to buy a new home? Failing to check that a lawyer is on the AtomBank 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 Atom Bank plc Conveyancing Panel? How can my firm be reinstated onto the Atom Bank plc Conveyancing Panel?Find an Approved Solicitor on the Atom Bank plc Conveyancing Panel
Atom Bank Conveyancing Panel Example Support Desk Enquires
The solicitor I wanted to use for conveyancing on a remortgage said he will levy higher legal fees if my lender is because of their difficult processes! Am I likely to be frustrated using Atom Bank? Is Atom Bank conveyancing so much more difficult?
Atom Bank conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Atom Bank conveyancing panel. If they are not, this does add further risk of delay as Atom Bank will appoint their own solicitors to look after their interest.
My grandson is purchasing a house that has just been built with a mortgage from Atom Bank. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Atom Bank conveyancing panel as a standard part of the process, and to the surveyor when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Atom Bank conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do lenders provide you with an approved list of solicitors? How do you know who is on the Atom Bank conveyancing panel?
The firms themselves provide us confirmation that they are on the Atom Bank conveyancing panel as opposed to being supplied with a list from Atom Bank directly.
I am attempting to get my former partner removed the mortgage deeds. Can Atom Bank really insist on which solicitor I can or can not instruct?
You can use any solicitor you like but Atom Bank then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Atom Bank solicitors panel
I am buying a property where the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Atom Bank be concerned
As you are obtaining a mortgage with Atom Bank your lawyer must to check the Atom Bank conveyancing instructions contained in the Part of CML Handbook for Atom Bank . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Atom Bank where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
We were going to get a DIP from Atom Bank this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Atom Bank recommend a solicitor on the Atom Bank conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Atom Bank conveyancing panel. The solicitor represents both you and the Atom Bank through the process.
I have instructed a lawyer having made sure that they are on the Atom Bank conveyancing panel. Does my lawyer arrange the survey of the property?
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I've digested plenty 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 Atom Bank conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Atom Bank will need an independent valuation of the property. Your lawyer will not arrange this. Usually Atom Bank 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.
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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 Atom Bank you could contact your them to see if they have a list of approved surveyors.
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