Find an Approved Solicitor on the Atom Bank plc
Conveyancing Panel
Common questions asked concerning the Atom Bank Solicitor Panel
My fiance and I are first time buyers. Within the last couple of days our conveyancer has forwarded the sale agreement to sign with a detailed report with a view to exchanging next week. Atom Bank have this afternoon contacted us to advise us that there is now an issue as our conveyancer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit 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 lawyers to represent them. You don't have to instruct a firm on the Atom Bank conveyancing panel and you may continue to use your own solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
I am buying a newly constructed flat and my lawyer is telling me that she is duty bound to reveal incentives from the builder as her practice is on the Atom Bank conveyancing panel. I am under pressure to sign contracts and I would rather not delay the conveyancing. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Atom Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Atom Bank). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Your search tool is useful but there are many lawyers listed near Hackney on the Atom Bank conveyancing panel. It would be a lot more helpful if you could 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. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
My uncle passed away last year and as sole heir and executor was left the property. The house had a relatively small loan left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Atom Bank , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Atom Bank will insist on your using a conveyancer on the Atom Bank conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Atom Bank conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Atom Bank mortgage is registered as a charge at the Land Registry.
I currently have a mortgage with with Atom Bank. Conveyancing has been completed a year 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 BTL mortgage or inform Atom Bank?
Atom Bank must be informed of your intention before renting your property as this is likely to be a breach of Atom Bank’s mortgage conditions. It may be that Atom Bank 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 Atom Bank directly. It should not be necessary to do this via a Atom Bank conveyancing panel lawyer.
Can I register a complaint to Atom Bank about the lawyers being on the Atom Bank conveyancing panel?
There is little point in complaining directly to Atom Bank. Every solicitor firm and conveyancer must have a complaints procedure. Usually one can find this information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is properly dealt with by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
Atom Bank 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 Atom Bank or your broker and complete any relevant paperwork. Atom Bank will tell you what documents they want. Atom Bank 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. Atom Bank 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.