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Secure Trust Bank Conveyancing Panel Example Support Desk Enquires
We are hoping to buy a 2 bedroom apartment in London with a mortgage from Secure Trust Bank. We like our solicitor but Secure Trust Bank says he's not on their "panel". We have to appoint one of the Secure Trust Bank panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Secure Trust Bank conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Secure Trust Bank
Can you clarify something for me?. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Secure Trust Bank was date stamped random date and we have agreed a date for me to move into the property on 10 days inc Day of week eg. Mon. My solicitor has advised that as she is on the Secure Trust Bank conveyancing panel she needs to redo the searches as they are no longer valid.
A precondition to being on the Secure Trust Bank approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Secure Trust Bank)which states that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Secure Trust Bank.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Secure Trust Bank conveyancing panel. My lawyer has said that they are on the Secure Trust Bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Secure Trust Bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Secure Trust Bank solicitor panel.
We're in Liverpool, First time buyers buying with a mortgage (lender is Secure Trust Bank , but our solicitor is on the Secure Trust Bank conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Secure Trust Bank 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
Is it the case that all solicitor practices on the Secure Trust Bank conveyancing panel overseen by the SRA?
As a firm of solicitors, in order to be on the Secure Trust Bank conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
Two weeks ago we had a mortgage agreed in principle with Secure Trust Bank. Solicitors have been appointed? How long does it take for Secure Trust Bank to send the offer to our conveyancer
There is no definitive answer here. Have Secure Trust Bank conducted the valuation? Have you advised Secure Trust Bank as your lawyers details and checked that your lawyer is on the Secure Trust Bank conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
I have a mortgage with Secure Trust Bank. My uncle has just retired and wants to pay off the mortgage left on the property. After Secure Trust Bank is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Secure Trust Bank conveyancing panel? I do not intend to live at the property once the Secure Trust Bank mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Secure Trust Bank panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.
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Transfer of Equity for Secure Trust BankPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors