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Ready to buy a new home? Failing to check that a lawyer is on the AccordBTL list of approved solicitors can put your transaction at risk of delay or failure.
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Frequently asked questions relating to the Accord Buy to Let Conveyancing Panel
My husband and I are buying a 2 bedroom apartment in London with a mortgage from Accord Buy to Let. We like our lawyer but Accord Buy to Let says he's not on their "panel". We have to appoint one of the Accord Buy to Let 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 Accord Buy to Let 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 Accord Buy to Let 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 Accord Buy to Let
I am due to move into my new home next Monday. 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 Accord Buy to Let. What does the insurance need to cover?
All property lawyers on the Accord Buy to Let 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 Accord Buy to Let’s Part 2 requirements of the CML Handbook (last updated on Accord Buy to Let). Being on the Accord Buy to Let conveyancing panel your lawyer is expect to follow these instructions.
I require the services of a Accord Buy to Let panel solicitor in Belfast. Can you assist?
It is not clear why you need a Accord Buy to Let panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Accord Buy to Let to find out which solicitors in Accord Buy to Let are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
The solicitors that just started acting on my house acquisition in Newcastle has without warning closed. I only went with them because I needed a solicitor on the Accord Buy to Let conveyancing panel and my previous lawyer was not. I gave my credit card details for them to take £175 for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Accord Buy to Let conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist
I have paid off my mortgage with Accord Buy to Let. I assume I don't need a solicitor on the Accord Buy to Let panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Accord Buy to Let 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 Accord Buy to Let mortgage from the register. Accord Buy to Let,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 Accord Buy to Let has sent the Land Registry the discharge electronically, and
the Accord Buy to Let has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Accord Buy to Let mortgage has been paid off.
After much negotiation I have agreed a price on an apartment. My mortgage broker suggested a solicitor I paid an upfront payment of 175. Soon after the conveyancers contacted me to say that they were not on the Accord Buy to Let conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Accord Buy to Let panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am due to exchange contracts on my house. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Accord Buy to Let are being difficult. The solicitor who is on the Accord Buy to Let conveyancing panel is recommending indemnity insurance as a solution but Accord Buy to Let are insisting on a building regulation certificate. Why do Accord Buy to Let have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Accord Buy to Let have referred the matter to their valuer. The reason why Accord Buy to Let may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.