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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.
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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
Q and A’s regarding the ASTRA mortgages Solicitor Panel
For what reasons would a firm of solicitors be excluded from the ASTRA mortgages solicitor panel?
According to a recent survey report by the solicitors regulator three quarters of solicitor practices had been excluded from a lender panel. The most common reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by ASTRA mortgages
Our lawyer has uncovered a legal deficiency with the lease for the flat we are purchasing. The other side have suggested defective title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer has advised that as he is on the ASTRA mortgages conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is ASTRA mortgages?
Just because you have a mortgage offer from ASTRA mortgages does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and ASTRA mortgages are the client. The appropriate lender requirements have to be complied with by the ASTRA mortgages conveyancing panel who has to balance acting for you and ASTRA mortgages
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the ASTRA mortgages solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
We're in London, FTBs buying with a mortgage (lender is ASTRA mortgages , but our lawyer is on the ASTRA mortgages conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the ASTRA mortgages conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
I am buying a property where the roof has a solar panel. ASTRA mortgages have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is ASTRA mortgages your lawyer must to check the ASTRA mortgages conveyancing instructions contained in the Part of CML Handbook for ASTRA mortgages . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to ASTRA mortgages where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
Planning on purchasing a flat with a mortgage with ASTRA mortgages. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the ASTRA mortgages conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the ASTRA mortgages conveyancing panel
ASTRA mortgages have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up ASTRA mortgages or your broker and complete any relevant paperwork. ASTRA mortgages will tell you what documents they want. ASTRA mortgages will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. ASTRA mortgages will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
Other Topics
Transfer of Equity for ASTRA mortgagesPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors