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approved by First Trust Bank
Ready to buy a new home? Failing to check that a lawyer is on the First Trust Bank 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 First Trust Bank Conveyancing Panel? How can my firm be reinstated onto the First Trust Bank Conveyancing Panel?Find an Approved Solicitor on the First Trust Bank Conveyancing Panel
Examples of recent questions relating to the First Trust Bank Conveyancing Panel
My lawyer is not listed on the First Trust Bank Solicitor Panel. Can I still continue with my family solicitor notwithstanding that they are excluded from the First Trust Bank panel of approved conveyancing solicitors?
You will need to have a conveyancer complete the legal work required when you take out a First Trust Bank mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the First Trust Bank conveyancing panel additional costs will be incurred as separate legal representation will be required by First Trust Bank. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
Our conveyancer has discovered a problem with the lease for the property we are buying. The seller’s lawyers have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer has advised that as he is on the First Trust Bank conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is First Trust Bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and First Trust Bank are the client. A precondition to being on the First Trust Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on First Trust Bank). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that First Trust Bank 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.
Do all the firms listed on your directory have online case tracking as I understood that this was a condition of being on the First Trust Bank conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
I am purchasing a terraced house and getting a mortgage with First Trust Bank. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the First Trust Bank 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 First Trust Bank conveyancing panel in your location.
Is it the case that all conveyancing solicitors on the First Trust Bank conveyancing panel work on a no sale no fee basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to move forward? I plan to obtain a mortgage with First Trust Bank. Is there anyway to cut out the solicitors to save on the costs? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with First Trust Bank involved you will need to appoint a solicitor on the First Trust Bank conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to First Trust Bank. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the First Trust Bank conveyancing panel.
My offer was accepted on a house on the 5th January 2014, valuation was booked 3 days after, received a clean bill of health. Conveyancer retained, so all that was missing was my mortgage offer. Having made daily calls to First Trust Bank and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the First Trust Bank conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for First Trust Bank to deal with your lawyers application to be on the First Trust Bank conveyancing panel. There's no guarantee that your solicitors will be accepted.
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