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Foundation Home loans and other mortgage companies normally restrict either the type or the number of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Foundation Home loans have no responsibility for the quality of advice provided by any member of Foundation Home loans Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.

Any lawyer on the Foundation Home loans conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Foundation Home loans’s Part 2 requirements of the CML Handbook (last updated on Foundation Home loans). Being on the Foundation Home loans conveyancing panel your lawyer is expect to follow these instructions.

Most conveyancing panel lawyers for Foundation Home loans undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.

Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Foundation Home loans 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 Foundation Home loans conveyancing panel in your location.

Given that you are obtaining a mortgage with Foundation Home loans your lawyer must to check the Foundation Home loans conveyancing instructions contained in the Part of CML Handbook for Foundation Home loans . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Foundation Home loans 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.

The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Foundation Home loans or your broker and complete any relevant paperwork. Foundation Home loans will tell you what documents they want. Foundation Home loans 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. Foundation Home loans 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.

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 Foundation Home loans 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 Foundation Home loans and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.