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approved by Aviva Equity Release
Ready to buy a new home? Failing to check that a lawyer is on the Aviva Equity Release list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?
How does my firm apply to be on the Aviva Equity Release UK Ltd Conveyancing Panel? How can my firm be reinstated onto the Aviva Equity Release UK Ltd Conveyancing Panel?Find an Approved Solicitor on the Aviva Equity Release UK Ltd Conveyancing Panel
Examples of recent questions relating to the Aviva Equity Release Solicitor Panel
My financial adviser has asked me for my solicitor’s panel member for the Aviva Equity Release conveyancing panel. What is the best way to find this out. I have called my local Aviva Equity Release branch but they have not got back to me yet.
the sensible thing to do is ask for this information from your solicitor. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Aviva Equity Release.
Our solicitor has uncovered a defect with the lease for the apartment we are buying. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer says that as he is on the Aviva Equity Release conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or Aviva Equity Release?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Aviva Equity Release are the client. A precondition to being on the Aviva Equity Release approved panel is to comply with the CML Handbook requirements (last updated for this lender on Aviva Equity Release). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Aviva Equity Release can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Aviva Equity Release conveyancing panel. My lawyer has said that they are on the Aviva Equity Release approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Aviva Equity Release conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Aviva Equity Release solicitor panel.
Please explain the implications if my solicitor is removed from the Aviva Equity Release Solicitor panel before the moving date as agreed at exchange of contracts?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
We expect to receive a DIP from Aviva Equity Release this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Aviva Equity Release recommend a solicitor on the Aviva Equity Release conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Aviva Equity Release conveyancing panel. The solicitor represents both you and the Aviva Equity Release through the process.
I have a mortgage with Aviva Equity Release. My godfather has just retired and wants to pay off my mortgage. After Aviva Equity Release is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Aviva Equity Release conveyancing panel? I do not intend to live at the property once the Aviva Equity Release mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Aviva Equity Release panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
At last I have had an offer on an apartment accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What should be my next step? When should I get the mortgage app going with Aviva Equity Release?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Aviva Equity Release conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Aviva Equity Release and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
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Transfer of Equity for Aviva Equity ReleasePlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors