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approved by Astra Mtgs
Ready to buy a new home? Failing to check that a lawyer is on the Astra Mtgs 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 ASTRA mortgages Conveyancing Panel? How can my firm be reinstated onto the ASTRA mortgages Conveyancing Panel?
Find an Approved Solicitor on the ASTRA mortgages Conveyancing Panel
Examples of recent questions relating to the ASTRA mortgages Solicitor Panel
A solicitor I wanted to use for conveyancing on a remortgage said she will levy higher legal fees if my mortgage is with ASTRA mortgages due to their unusual legal requirements. Am I likely to be frustrated using ASTRA mortgages? Is ASTRA mortgages conveyancing so much more difficult?
ASTRA mortgages conveyancing requirements for their panel are no better or no more complicated than most lenders. It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender. It is not clear if your lawyer is on the ASTRA mortgages conveyancing panel. If they are not, this does add further risk of delay as ASTRA mortgages will appoint their own solicitors to look after their interest.
My lawyer has spotted a discrepancy when comparing the assumptions in ASTRA mortgages’s valuation survey and what is revealed within the conveyancing documents. My lawyer has advised that as he is on the ASTRA mortgages conveyancing panel he must ensure that the bank is happy with this discrepancy and is content go ahead. Is my lawyer’s approach correct?
A precondition to being on the ASTRA mortgages approved panel is to comply with the CML Handbook requirements (last updated for this lender on ASTRA mortgages) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I am searching for competitive conveyancing fees. Can I be assured that all the law firms that are listed on your website are on the ASTRA mortgages conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have assured us via an online form that they are on the ASTRA mortgages panel and agreed to advise us to take down their listing in the event of removal off of the ASTRA mortgages 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 ASTRA mortgages conveyancing panel is incorrect.
I am selling my house. Does my solicitor have to be on the ASTRA mortgages conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the ASTRA mortgages 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.
Is there a list of ASTRA mortgages panel conveyancers on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
For 5 years I had a mortgage with ASTRA mortgages. My grandfather retired last week and wants to pay off my mortgage. After ASTRA mortgages 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 ASTRA mortgages conveyancing panel? I do not intend to live at the property once the ASTRA mortgages mortgage is discharged.
You will need a solicitor but they need not be on the ASTRA mortgages conveyancing 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.
I currently have a mortgage with with ASTRA mortgages. Conveyancing was finalised some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform ASTRA mortgages?
You must advise ASTRA mortgages prior to letting out your property as this is likely to be a breach of ASTRA mortgages’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact ASTRA mortgages directly. You need not do this via a ASTRA mortgages conveyancing panel firm.