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Ready to buy a new home? Failing to check that a lawyer is on the Better 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 Better HomeOwnership (Mortgages) Conveyancing Panel? How can my firm be reinstated onto the Better HomeOwnership (Mortgages) Conveyancing Panel?Find an Approved Solicitor on the Better HomeOwnership (Mortgages) Conveyancing Panel
FAQs : The Better HomeOwnership Solicitor Panel
I am progressing with the sale of my flat and the estate agent has just texted me to warn that the purchasers are appointing a new property lawyer. The reason given is that Better HomeOwnership will only work with property lawyers on their approved list. On what basis would a leading mortgage company only engage with specific lawyers?
UK 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 HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks point to the increase in fraud by way of justification 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.
Much to my surprise my conveyancing solicitor is asking me for ID documents asserting that this forms part of his obligations as a solicitor on the Better HomeOwnership Solicitor panel. Can this be correct?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Better HomeOwnership your lawyer also has to check ID documents to satisfy Better HomeOwnership
I am looking to buy a property and require a conveyancing solicitor in Birmingham who is on the Better HomeOwnership solicitor. Can you recommend a local conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Better HomeOwnership . We don’t recommend any particular firm.
I am purchasing a new build flat and getting a mortgage with Better HomeOwnership. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Better HomeOwnership conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Better HomeOwnership conveyancing panel in your location.
Are all Conveyancing Quality Solicitors on the Better HomeOwnership conveyancing panel?
It is true that some banks and building societies now use CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
We are getting a further advance on our mortgage from Better HomeOwnership as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Better HomeOwnership conveyancing panel to deal with the paperwork?
Better HomeOwnership do not ordinarily appoint firms on their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Better HomeOwnership panel
We have agreed a price on a house I spoke to a conveyancer previously used by my mum and he recommended instructing a solicitor approved by Better HomeOwnership. The estate agent recommended two local firms so I asked Better HomeOwnership if the 2 suggested solicitors are approved, which they are not. Better HomeOwnership pointed out that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Better HomeOwnership 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Better HomeOwnership for conveyancing panel firms in your area. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Better HomeOwnership conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Better HomeOwnership conveyancing panel as it may only take about 2-3 weeks. As long as they meet Better HomeOwnership’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
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