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My husband and I are hoping to buy a 2 bedroom apartment in Newcastle with a mortgage from Atom Bank. We like our solicitor but Atom Bank says she’s not on their "panel". We have to appoint one of the Atom 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; Can we not simply insist that Atom Bank use our lawyer?
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 Atom 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for Atom Bank
I am due to complete my purchase next Tuesday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for Atom Bank. What does the insurance need to cover?
All property lawyers on the Atom Bank 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 Atom Bank’s Part 2 requirements of the CML Handbook (last updated on Atom Bank). Being on the Atom Bank conveyancing panel your lawyer is expect to follow these instructions.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Atom Bank conveyancing panel. My lawyer has said that they are on the Atom 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 Atom 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 Atom Bank solicitor panel.
My uncle passed away last year and as sole heir and executor was left the house. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Atom Bank , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Atom Bank will insist on your using a conveyancer on the Atom Bank conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Atom Bank conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Atom Bank mortgage is registered as a charge at the Land Registry.
We are getting a further advance on our mortgage from Atom Bank as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Atom Bank conveyancing panel to deal with the legals?
Atom Bank do not ordinarily instruct a member of 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 Atom Bank list
We were going to get a DIP from Atom Bank 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 Atom Bank recommend a solicitor on the Atom Bank conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Atom Bank conveyancing panel. The solicitor represents both you and the Atom Bank through the process.
I am currently in the process of buying my council flat. I have a mortgage offer with Atom Bank. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Atom Bank you will need to appoint a solicitor on the Atom Bank conveyancing panel.
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