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Ready to buy a new home? Failing to check that a lawyer is on the Aviva Equity Release list of approved solicitors can put your transaction at risk of delay or failure.
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Aviva Equity Release Conveyancing Panel : Questions and Answers
We are buying a 2 bedroom flat in Leeds with a mortgage from Aviva Equity Release. We have a lawyer but Aviva Equity Release says he's not on their "panel". It seems we have little choice but to instruct one of the Aviva Equity Release 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 Aviva Equity Release 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 Aviva Equity Release 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 Aviva Equity Release
Please help. My lawyer is advising me that he has to conduct a Local Authority search as the firm are on the Aviva Equity Release conveyancing panel. Do I not have a choice here?
You have limited options available to you. Given that you are taking out a loan with Aviva Equity Release your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Aviva Equity Release’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Aviva Equity Release. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I have been Googling for online conveyancing estimates. Can I be confident that all the practices that are listed on your website are on the Aviva Equity Release conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have advised us that they are on the Aviva Equity Release panel and agreed to advise us to take down their listing in the event of removal off of the Aviva Equity Release panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the Aviva Equity Release conveyancing panel is incorrect.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Aviva Equity Release conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Aviva Equity Release conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I have today made my last payment due on mortgage with Aviva Equity Release. I assume I don't need a solicitor on the Aviva Equity Release panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Aviva Equity Release mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aviva Equity Release mortgage from the register. Aviva Equity Release,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Aviva Equity Release has sent the Land Registry the discharge electronically, and
the Aviva Equity Release has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Aviva Equity Release mortgage has been paid off.
I have a mortgage with Aviva Equity Release. My father has just retired and wants to pay off the mortgage left on the property. After Aviva Equity Release 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 Aviva Equity Release conveyancing panel? I do not intend to live at the property once the Aviva Equity Release mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Aviva Equity Release 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. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
We are are remortgaging a flat in Hendon. Conveyancing solicitors in Hendon are about to beretained. My brother-in-lawadvised that we make sure that the conveyancer in Hendon is on the Aviva Equity Release approved list of lawyers. Is this right?
Not all Hendon conveyancing solicitors are on the Aviva Equity Release conveyancing panel. 7 people a month use our search tool to search for a Hendon conveyancing solicitor on the on the Aviva Equity Release panel.
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Transfer of Equity for Aviva Equity ReleasePlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors