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approved by Kensington Mortgage
Ready to buy a new home? Failing to check that a lawyer is on the Kensington Mortgage 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 Kensington Mortgage Company Ltd Conveyancing Panel? How can my firm be reinstated onto the Kensington Mortgage Company Ltd Conveyancing Panel?Find an Approved Solicitor on the Kensington Mortgage Company Ltd Conveyancing Panel
Kensington Mortgage Conveyancing Panel Example Support Desk Enquires
My financial adviser has informed me that I have to pay Kensington Mortgage fees should I instruct my family lawyer. How good are the Kensington Mortgage conveyancing panel solicitors? I dont care which law firm I use as long as they're good and not exorbitantly priced. Are there any Kensington Mortgage conveyancers you'd recommend?
Kensington Mortgage’s conveyancing panel is substantial so it would be advisable to check with the firms you are getting quotes from whether they are on it. You can search by postcode on the search tool on this site to find solicitors that Kensington Mortgage will allow to act for them.
I am buying a brand new duplex and my conveyancer is telling me that she has to reveal incentives from the seller as her practice is on the Kensington Mortgage conveyancing panel. I am on a tight deadline to sign contracts and my preference is not to prolong the conveyancing. Can I insist on an exchange regardless of what my lawyer says about being on the Kensington Mortgage panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Kensington Mortgage approved panel is to comply with the CML Handbook requirements (last updated for this lender on Kensington Mortgage). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Kensington Mortgage conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
What happens if my lawyer’s firm is expelled from the Kensington Mortgage Solicitor panel before the completion date?
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 for a fee.
Do the majority of lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Kensington Mortgage conveyancing panel requirements are different to Kensington Mortgage’s conveyancing panel requirements.
Why might a lender such as Kensington Mortgage withdraw a mortgage offer?
Banks and Building Societies such as Kensington Mortgage can revoke their mortgage offer although this is unusual. should Kensington Mortgage withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are 5 examples:
- Where information comes to Kensington Mortgage ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- Kensington Mortgage may amend or withdraw an offer if the Kensington Mortgage conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- Many mortgage offers have an expiry date. Your lawyer should check this. Kensington Mortgage may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
- If the financial circumstances of the borrower have changed to the detriment and the Kensington Mortgage has been notified
- If the borrower informs Kensington Mortgage of a change in security address
Next month my fiance and I are purchasing a flat in Hendon. Conveyancing solicitors in Hendon are preferred to beretained. My agentrecommended that we double-check that the conveyancer in Hendon is on the Kensington Mortgage panel. Is this really necessary?
It is not that case that all Hendon conveyancing firms are on the Kensington Mortgage conveyancing panel. Use the above search tool to find a Hendon conveyancing firm on the on the Kensington Mortgage approved list of lawyers.
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