Find an Approved Solicitor on the Accord Buy to Let
Accord Buy to Let Solicitor Panel Recently Asked Questions
I am progressing with the sale of my house and the estate agent has just telephoned to advise that the buyers are swapping law firm. I am told that this is due to the fact that Accord Buy to Let will only engage with property lawyers on their approved list. On what basis would a big named lender only engage with certain solicitors?
Banks have always had panels of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lenders point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Accord Buy to Let will not agree to this. Why was Accord Buy to Let even consulted?
Your lawyer being on the Accord Buy to Let conveyancing panel is duty bound to inform Accord Buy to Let of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Accord Buy to Let then they would have to discontinue acting for you and Accord Buy to Let.
How up to date is your search tool for the Accord Buy to Let conveyancing panel? Do Accord Buy to Let send you an updated list?
The law firm practices themselves provide us confirmation that they are on the Accord Buy to Let conveyancing panel as opposed to being supplied with a list from Accord Buy to Let directly.
My grandfather passed away six months ago and as sole heir and executor was left the house. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Accord Buy to Let , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Accord Buy to Let will insist on your using a conveyancer on the Accord Buy to Let 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 Accord Buy to Let 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 Accord Buy to Let mortgage is registered as a charge at the Land Registry.
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Accord Buy to Let conveyancing panel requirements are different to Accord Buy to Let’s conveyancing panel requirements.
Last month we had a mortgage agreed in principle with Accord Buy to Let. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from Accord Buy to Let?
There is no definitive answer here. Have Accord Buy to Let done the valuation? Have you advised Accord Buy to Let as your lawyers details and checked that your lawyer is on the Accord Buy to Let conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
Completion of my purchase has taken place with a mortgage from Accord Buy to Let. Conveyancing was of an acceptable standard but I would like to complain about Accord Buy to Let. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the Accord Buy to Let branches or the Customer Services Team at Accord Buy to Let head office. We understand that complaints to Accord Buy to Let are resolved effectively and efficiently. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.