Find an Approved Solicitor on the Atom Bank plc
Common questions asked concerning the Atom Bank Conveyancing Panel
For what reasons would a law firm be excluded from the Atom Bank solicitor panel?
According to a recent survey report by the solicitors regulator three quarters of solicitor practices had been removed from a lender panel. The most common reasons in order are :
- Low volume 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 Atom Bank
My son-in-law is in the process of securing a newly built flat with a home loan from Atom Bank. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Atom Bank conveyancing panel as a standard part of the process, and to the surveyor when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Atom Bank conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Your search tool is useful but there are many lawyers listed near Leeds on the Atom Bank conveyancing panel. Can you recommend a specific firm on the Atom Bank approved panel?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
I am considering applying for a Atom Bank mortgage for purchase of a new build (under development) with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Atom Bank?
In theory, you could use a solicitor that is not on Atom Bank conveyancing panel, but Atom Bank would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
When it comes to mortgage companies such as Atom Bank do solicitors 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.
Is it the case that all conveyancing lawyers on the Atom Bank conveyancing panel work on a no sale no fee basis?
There is generally 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 service
I have today made my last payment due on mortgage with Atom Bank. I assume I don't need a solicitor on the Atom Bank panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Atom Bank mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Atom Bank mortgage from the register. Atom Bank,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Atom Bank has sent the Land Registry the discharge electronically, and
the Atom Bank has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Atom Bank mortgage has been paid off.