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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.
Looking for information about your firm's panel status?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?
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Aldermore Bank Conveyancing Panel : Questions and Answers
I appointed a firm of solicitors to conveyancing on my purchase six weeks ago having applied for a mortgage with Aldermore Bank. The solicitors confirmed to me that they are on Aldermore Bank conveyancing panel and gave me their panel number. Aldermore Bank then ,via my broker advised that their panel number was dormant and would need to be reactivated. What do I do from here? Do I instruct a different law firm listed on the approved panel for Aldermore Bank?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Aldermore Bank conveyancing panel You may wish to enlist the help of your broker to check with the Aldermore Bank as to the time frame to get your lawyer reinstated on the panel once again.
Can you clarify something for me?. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from Aldermore Bank was dated random date and we have agreed a date for me to move into the property on Tues etc. My lawyer says that as she is on the Aldermore Bank conveyancing panel she needs to reorder the searches as they are no longer valid.
One of the many conditions to being on the Aldermore Bank approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Aldermore Bank)which specifies that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Aldermore Bank.
I am searching for competitive conveyancing fees. Can I be sure that all the law firms that are listed on your website are on the Aldermore Bank conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have assured us via an online form that they are on the Aldermore Bank panel and agreed to advise us to take down their listing in the event of removal off of the Aldermore Bank panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Aldermore Bank conveyancing panel is incorrect.
My grandmother passed away last year and as sole heir and executor was left the property. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds 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.
Do conveyancing solicitors on the Aldermore Bank conveyancing panel work on a no move no charge basis?
In the main there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
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?
Some lenders take longer than others. Have Aldermore Bank completed the survey? Have you advised Aldermore Bank as your lawyers details and checked that your lawyer is on the Aldermore Bank conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
Completion of my purchase has taken place with a loan from Aldermore Bank. Conveyancing was of an acceptable standard but I would like to complain about Aldermore Bank. How does one go about formally complaining?
Most lenders have complaints procedures. Your first point of contact should be one of the Aldermore Bank branches or the Customer Care Department at Aldermore Bank head office. We understand that complaints to Aldermore Bank are resolved effectively and efficiently. However if you are not satisfied that the matter is resolved you can write to the Financial Ombudsman Service with full details of your complaint.