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Ready to buy a new home? Failing to check that a lawyer is on the Fleet 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 Fleet Mortgages Conveyancing Panel? How can my firm be reinstated onto the Fleet Mortgages Conveyancing Panel?Find an Approved Solicitor on the Fleet Mortgages Conveyancing Panel
FAQs : The Fleet Mortgages Conveyancing Panel
What is the rationale as to why all solicitors are not on the Fleet Mortgages Conveyancing panel?
Mortgage companies point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year. The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging less reputable firms off their books
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Fleet Mortgages will not agree to this. Why was Fleet Mortgages even consulted?
Your lawyer being on the Fleet Mortgages conveyancing panel is duty bound to inform Fleet Mortgages of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Fleet Mortgages then they would have to discontinue acting for you and Fleet Mortgages.
How up to date is your database of lawyers on the Fleet Mortgages conveyancing panel? Do Fleet Mortgages send you an updated list?
The law firm practices themselves provide us confirmation that they are on the Fleet Mortgages conveyancing panel as opposed to being supplied with a list from Fleet Mortgages directly.
We're in London, First time buyers purchasing with a mortgage (lender is Fleet Mortgages , but our solicitor is on the Fleet Mortgages conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Fleet Mortgages conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
My wife and I have arranged a further advance on our mortgage from Fleet Mortgages as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Fleet Mortgages conveyancing panel to deal with the legals?
Fleet Mortgages do not ordinarily appoint firms on their approved list of lawyers 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 Fleet Mortgages panel
Two weeks ago we had a mortgage agreed in principle with Fleet Mortgages. Solicitors have been instructed? How long does it take for Fleet Mortgages to send the offer to our conveyancer
Some lenders take longer than others. Have Fleet Mortgages completed the survey? Have you advised Fleet Mortgages as your lawyers details and checked that your lawyer is on the Fleet Mortgages conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
My ex -wife’s name is on the Fleet Mortgages mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Fleet Mortgages mortgage in order to sell?
In terms of the Fleet Mortgages mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Fleet Mortgages in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
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Transfer of Equity for Fleet MortgagesPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors