Find an Approved Solicitor on the Atom Bank plc
Atom Bank Conveyancing Panel : Questions and Answers
My husband and I are first time buyers. Within the 48 hours our solicitor has forwarded the sale agreement to sign with a detailed report in anticipation of exchanging contracts shortly. Atom Bank have this evening contacted us to inform me that there is now an issue as our lawyer is not on their approved list of lawyers. Is this a problem?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme.
Your solicitors should contact Atom Bank and see if they can apply for membership of the Atom Bank conveyancing panel, but if that is not viable Atom Bank will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the Atom Bank conveyancing panel as you are at liberty to use your preferred lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Please help. My conveyancer is assuring me that he has to order a Local Authority search stemming from the fact that the firm are on the Atom Bank solicitor panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with Atom Bank your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Atom Bank’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Atom Bank. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I need to find a Atom Bank panel solicitor in Inverness. Could you help me?
It is not clear why you need a Atom Bank panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Atom Bank to find out which solicitors in Atom Bank are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
The solicitors that I appointed last week on my purchase in Brighton has without warning shut down. I only went with them because I needed a firm on the Atom Bank conveyancing panel and my family lawyer was not. I gave my credit card details for them to take £175 for searches. What are my options?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Atom Bank conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help
When it comes to mortgage companies such as Atom Bank do lawyers have to be pay a fee to be on the conveyancing panel?
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.
We have agreed a price on a house I spoke to a conveyancer recommended by my dad and he recommended using a law firm approved by Atom Bank. The estate agent recommended two local firms so I asked Atom Bank if the 2 suggested solicitors are approved, which they are not. Atom Bank suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Atom Bank 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Atom Bank for conveyancing panel firms in your area. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Atom Bank conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Atom Bank conveyancing panel as it may only take about 2-3 weeks. As long as they meet Atom Bank’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
My offer was accepted on an apartment on the 17th March 2014, valuation was booked 4 days after, received a clean bill of health. Solicitor instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Atom Bank and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Atom Bank conveyancing panel. Are Atom Bank entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Atom Bank to deal with your lawyers application to be on the Atom Bank conveyancing panel. There's no guarantee that your solicitors will be accepted.