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approved by Aldermore Bank
Ready to buy a new home? Failing to check that a lawyer is on the Aldermore Bank 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 Aldermore Bank PLC Conveyancing Panel? How can my firm be reinstated onto the Aldermore Bank PLC Conveyancing Panel?Find an Approved Solicitor on the Aldermore Bank PLC Conveyancing Panel
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I am expecting a mortgage offer from Aldermore Bank. my intention is to retain the legal services of a Licensed Conveyancer. Does the Aldermore Bank Conveyancing panel include conveyancers regulated by the CLC
Aldermore Bank’s approved solicitor list is, like many other lenders associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My property lawyer has requested from me proof of ID documents saying that this is part of his legal duty as a conveyancer on the Aldermore Bank Solicitor panel. Can you confirm whether this is the case?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Aldermore Bank your lawyer also has to check ID documents to satisfy Aldermore Bank
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Aldermore Bank conveyancing panel. My lawyer has said that they are on the Aldermore 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 Aldermore 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 Aldermore Bank solicitor panel.
My aunt passed away last year and as sole heir and executor was left the house. The house had a small mortgage remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Aldermore Bank , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Aldermore Bank will insist on your using a conveyancer on the Aldermore 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 Aldermore 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 Aldermore Bank mortgage is registered as a charge at the Land Registry.
When it comes to lenders such as Aldermore Bank do lawyers have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Two weeks ago we had a mortgage agreed in principle with Aldermore Bank. Solicitors have been chosen? What is the average time that one could expect to receive a mortgage offer from Aldermore Bank?
There is no definitive answer here. Have Aldermore Bank done the survey? Have you advised Aldermore Bank as your lawyers details and checked that your lawyer is on the Aldermore Bank conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
Is it common for Aldermore Bank to withdraw a mortgage offer and what would be the reasoning?
Lenders such as Aldermore Bank can revoke their mortgage offer although this rarely happens. should Aldermore Bank withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are various possible reasons but here are 5 examples:
- Many mortgage offers have an expiry date. Your lawyer should check this. Aldermore Bank may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
- Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Aldermore Bank conveyancing panel solicitors would be obliged to notify Aldermore Bank of a change in the price of the property.
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
- Where the Lender’s right to possession is fettered in some way
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Transfer of Equity for Aldermore BankPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors