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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.
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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
FAQs for the State Bank of India UK Conveyancing Panel
My husband and I are hoping to buy a 1 bedroom apartment in Leeds with a mortgage from State Bank of India UK. We like our lawyer but State Bank of India UK says he's not on their "panel". We have to appoint one of the State Bank of India UK panel solicitors 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 State Bank of India UK 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 State Bank of India UK 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 solicitors to apply to be on the conveyancing panel for State Bank of India UK
Our conveyancer is asking me for identification documents stating that this is part of his retainer as a conveyancer on the State Bank of India UK Solicitor panel. Is this right?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with State Bank of India UK your lawyer also has to check ID documents to satisfy State Bank of India UK
Is it necessary during the course of the conveyancing process to attend the offices of the State Bank of India UK conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in London
so that I can pop in to their offices if necessary.
As opposed to twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in London
.
I was expecting to complete on my dream home last Thursday. My lawyer’s firm is on the State Bank of India UK solicitors panel but has moved offices 8 weeks ago and had not informed State Bank of India UK of their new address. State Bank of India UK is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local State Bank of India UK branch or your mortgage broker to see if they can help.
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to move forward? I plan to obtain a mortgage with State Bank of India UK. Is it possible to avoid using solicitors to save us both money? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with State Bank of India UK involved you will need to appoint a solicitor on the State Bank of India UK conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to State Bank of India UK. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the State Bank of India UK conveyancing panel.
Intending to buy a flat with a mortgage with State Bank of India UK. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the State Bank of India UK conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the State Bank of India UK conveyancing panel
My offer was accepted on an apartment on the 5th March 2014, valuation was booked five days later, all came back fine. Solicitor instructed, so all that was missing was my mortgage offer. Having made daily calls to State Bank of India UK and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the State Bank of India UK conveyancing panel. Are State Bank of India UK entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for State Bank of India UK to deal with your lawyers application to be on the State Bank of India UK conveyancing panel. There's no guarantee that your solicitors will be accepted.
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