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Ready to buy a new home? Failing to check that a lawyer is on the zephyr 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 Zephyr Mortgages Conveyancing Panel? How can my firm be reinstated onto the Zephyr Mortgages Conveyancing Panel?Find an Approved Solicitor on the Zephyr Mortgages Conveyancing Panel
Zephyr Mortgages Conveyancing Panel : Questions and Answers
I need to swap lawyers as my lawyer is not on the Zephyr Mortgages panel of conveyancing solicitors. Is it advisable to appoint a new law firm?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
I am buying a newly built duplex and my conveyancer is advising me that she has to reveal incentives from the builder as her practice is on the Zephyr Mortgages conveyancing panel. The Estate Agents are hassling me to exchange contracts and I would rather not delay deal. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Zephyr Mortgages approved panel is to comply with the CML Handbook requirements (last updated for this lender on Zephyr Mortgages). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do banks and building societies provide you with an approved list of solicitors? How do you know who is on the Zephyr Mortgages conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the Zephyr Mortgages conveyancing panel as opposed to being supplied with a list from Zephyr Mortgages directly.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Zephyr Mortgages Solicitor panel before the moving date as agreed at exchange of contracts?
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.
I am about to exchange contracts on a purchase with a mortgage from Zephyr Mortgages. The report from my solicitor mentions that Zephyr Mortgages could withdraw their offer before completion. Is this right?
Banks and Building Societies such as Zephyr Mortgages can withdraw their mortgage offer although this is unusual. should Zephyr Mortgages withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a few examples:
- If the financial circumstances of the borrower have changed to the detriment and the Zephyr Mortgages has been notified
- Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
- Where the lender has to take account a recent change in taxation
- If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
- If the solicitor on the Zephyr Mortgages conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Zephyr Mortgages ‘s instructions
We expect to receive a DIP from Zephyr Mortgages this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Zephyr Mortgages recommend a solicitor on the Zephyr Mortgages 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 Zephyr Mortgages conveyancing panel. The solicitor represents both you and the Zephyr Mortgages through the process.
My brother and I are remortgaging a 1st floor apartment in Hendon. Conveyancing solicitors in Hendon will soon begiven the go-ahead. My fathersuggested that we check that the conveyancer in Hendon is on the Zephyr Mortgages solicitors panel. Is this really necessary?
Far from all Hendon conveyancing practices are on the Zephyr Mortgages conveyancing panel. 8 people a month use our search tool to search for a Hendon conveyancing firm on the on the Zephyr Mortgages approved list of lawyers.
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