Find a Law Firm
approved by Topaz Finance
Ready to buy a new home? Failing to check that a lawyer is on the Topaz Finance 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 Topaz Finance plc Conveyancing Panel? How can my firm be reinstated onto the Topaz Finance plc Conveyancing Panel?Find an Approved Solicitor on the Topaz Finance plc Conveyancing Panel
Topaz Finance Conveyancing Panel Example Support Desk Enquires
My husband and I are hoping to buy a 3 bedroom apartment in Newcastle with a mortgage from Topaz Finance. We would like to retain our solicitor but Topaz Finance says he's not on their "panel". It seems we have little choice but to instruct one of the Topaz Finance panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Topaz Finance use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Topaz Finance 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for Topaz Finance
My solicitor has discovered a discrepancy when comparing the information in Topaz Finance’s valuation report and what is revealed within the conveyancing documents. My solicitor informs me that as he is on the Topaz Finance conveyancing panel he must check that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s stance right?
A precondition to being on the Topaz Finance approved panel is to comply with the CML Handbook requirements (last updated for this lender on Topaz Finance) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I understood that this was a condition of being on the Topaz Finance 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 solicitor is suspended from the Topaz Finance Solicitor panel in advance of the completion date?
The first thing to point out is that, this is a very rare occurrence. 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 at a cost.
My existing mortgage is with Topaz Finance. My uncle has just retired and wants to pay off my mortgage. After Topaz Finance is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Topaz Finance conveyancing panel? I do not intend to live at the property once the Topaz Finance mortgage is discharged.
You
will need a solicitor but they need not be on the Topaz Finance conveyancing 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.
Completion of my remortgage has taken place with a loan from Topaz Finance. Conveyancing was of an acceptable standard but I would like to complain about Topaz Finance. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the Topaz Finance branches or the Customer Services Team at Topaz Finance head office. In most cases complaints to Topaz Finance are resolved very quickly. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service who will take matters further.
My ex -wife’s name is on the Topaz Finance 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 Topaz Finance mortgage in order to sell?
In terms of the Topaz Finance 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 Topaz Finance 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.
Other Topics
Transfer of Equity for Topaz FinancePlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors