Find a Law Firm
approved by State Bank of India UK
Ready to buy a new home? Failing to check that a lawyer is on the State Bank of India UK 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 State Bank of India UK Conveyancing Panel? How can my firm be reinstated onto the State Bank of India UK Conveyancing Panel?Find an Approved Solicitor on the State Bank of India UK Conveyancing Panel
Q and A’s regarding the State Bank of India UK Conveyancing Panel
I would like to know the reason why all solicitors are not on the State Bank of India UK Solicitor panel?
Pre- 2008 most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
Expecting to complete my purchase next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in has capacity as lawyer for State Bank of India UK. What does the insurance need to cover?
Any lawyer on the State Bank of India UK 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 State Bank of India UK’s Part 2 requirements of the CML Handbook (last updated on State Bank of India UK). Being on the State Bank of India UK conveyancing panel your lawyer is expect to follow these instructions.
Do all the firms listed on your search have online case tracking as I was under the impression that this was a precondition of being on the State Bank of India UK solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I am considering applying for a State Bank of India UK mortgage for purchase of a new build (under development) with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for State Bank of India UK?
There is nothing to stop you using your solicitor but State Bank of India UK will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
We expect to receive a DIP from State Bank of India UK this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the State Bank of India UK recommend a solicitor on the State Bank of India UK 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 State Bank of India UK conveyancing panel. The solicitor represents both you and the State Bank of India UK through the process.
My brother and I have agreed a price on a house I spoke to a conveyancer previously used by my dad and he advised using a property lawyers approved by State Bank of India UK. The estate agent recommended two local firms so I asked State Bank of India UK if the 2 suggested solicitors are approved, which they are not. State Bank of India UK pointed out that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of State Bank of India UK 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of State Bank of India UK for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the State Bank of India UK 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 State Bank of India UK conveyancing panel as it may only take about 2-3 weeks. As long as they meet State Bank of India UK’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.
I have a mortgage with State Bank of India UK. Conveyancing was finalised some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform State Bank of India UK?
State Bank of India UK must be informed of your intention in advance of renting your property as this is likely to be a breach of State Bank of India UK’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact State Bank of India UK directly. You need not do this via a State Bank of India UK conveyancing panel solicitor.
Other Topics
Transfer of Equity for State Bank of India UKPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors