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Ready to buy a new home? Failing to check that a lawyer is on the AtomBank 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 Atom Bank plc Conveyancing Panel? How can my firm be reinstated onto the Atom Bank plc Conveyancing Panel?Find an Approved Solicitor on the Atom Bank plc Conveyancing Panel
Common questions asked concerning the Atom Bank Conveyancing Panel
A lawyer my husband and I wanted to use for conveyancing on a remortgage said she would charge more if my mortgage is with Atom Bank because of their difficult processes! Am I likely to be frustrated using Atom Bank? Any comments will be appreciated
Atom Bank 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 Atom Bank conveyancing panel. If they are not, this does add further risk of delay as Atom Bank will appoint their own solicitors to look after their interest.
My husband and I intend to remortgage our apartment with Atom Bank. We have a son 18 who lives with us. The solicitor on the Atom Bank conveyancing panel has asked us to disclose any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this document specific to the Atom Bank conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Atom Bank .This is solely used to protect the Atom Bank if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Atom Bank had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Do I need to pop into the offices of the Atom Bank conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in London
so that I can pop in to their offices when needed.
Whereas this was necessary ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in London
.
I am selling my house. Does my solicitor have to be on the Atom Bank conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Atom Bank 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 Atom Bank panel solicitors 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.
How can we tell if a solicitor on the Atom Bank panel is any good?
seeking recommendations is a good start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor carrying out your transaction
My wife and I have arranged a further advance on our mortgage from Atom Bank as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Atom Bank conveyancing panel to deal with the paperwork?
Atom Bank would not normally appoint firms on their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Atom Bank panel
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