Find a Law Firm
approved by Aviva Equity Release
Ready to buy a new home? Failing to check that a lawyer is on the Aviva Equity Release list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Aviva Equity Release UK Ltd Conveyancing Panel
Common questions asked concerning the Aviva Equity Release Solicitor Panel
I am progressing with the sale of my flat and the estate agent has just e-mailed to advise that the buyers are swapping conveyancer. The excuse is that Aviva Equity Release will only engage with property lawyers on their approved list. On what basis would a big named lender only work with certain law firms?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks blame a rise in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Aviva Equity Release will not agree to this. Why was Aviva Equity Release even consulted?
Your lawyer being on the Aviva Equity Release conveyancing panel is duty bound to inform Aviva Equity Release of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Aviva Equity Release then they would have to discontinue acting for you and Aviva Equity Release.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Aviva Equity Release conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
The firm that I appointed last week on my purchase in London has without warning shut down. I only went with them because I needed a solicitor on the Aviva Equity Release conveyancing panel and my previous lawyer was not. I paid them £200 on account. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know 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 Aviva Equity Release 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 lawyers may be able to help
When it comes to mortgage companies such as Aviva Equity Release 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.
Can you point me to a directory of Aviva Equity Release panel solicitors on the Building Society Association’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.
I have today made my last payment due on mortgage with Aviva Equity Release. I assume I don't need a solicitor on the Aviva Equity Release panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Aviva Equity Release 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 Aviva Equity Release mortgage from the register. Aviva Equity Release,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 Aviva Equity Release has sent the Land Registry the discharge electronically, and
the Aviva Equity Release has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Aviva Equity Release mortgage has been paid off.