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Ready to buy a new home? Failing to check that a lawyer is on the Banks & Clients list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?Is my firm on the Banks and Clients plc Conveyancing Panel? How does my firm apply to be on the Banks and Clients plc Conveyancing Panel? How can my firm be reinstated onto the Banks and Clients plc Conveyancing Panel?
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Q and A’s regarding the Banks and Clients Conveyancing Panel
My IFA has says he needs my lawyer’ panel member for the Banks and Clients conveyancing panel. What is the best way to obtain this. I have contacted my local Banks and Clients office but they have not got back to me yet.
You are best placed to get this information from your conveyancing lawyer. They should have a central record lender panel numbers including the Banks and Clients panel reference.
We are approaching an exchange and my mum and dad having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Banks and Clients. Apparently, being on the Banks and Clients conveyancing panel and acting on their behalf he must inform Banks and Clients if the balance of the mortgage advance is not just from me. I disclosed to the bank about my parent’s contribution when I applied for the home loan so is it really necessary for him to raise this?
Your lawyer is obliged to check with Banks and Clients to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Banks and Clients if you agree, failing which, your lawyer must cease to continue acting.
I need to find a Banks and Clients panel solicitor in Stirling. Could you help me?
It is not clear why you need a Banks and Clients panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Banks and Clients to find out which solicitors in Banks and Clients 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
I was scheduled to move into my flat last Friday. My lawyer’s firm is on the Banks and Clients solicitors panel but has changed address in the past couple of months and had not advised Banks and Clients of their new address. Banks and Clients is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Banks and Clients branch or your mortgage broker to see if they can assist.
Is it the case that all conveyancing solicitors on the Banks and Clients conveyancing panel work on a no move no charge basis?
On the whole there are 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
My existing mortgage is with Banks and Clients. My godfather has just retired and wants to pay off the mortgage left on the property. After Banks and Clients is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Banks and Clients conveyancing panel? I do not intend to live at the property once the Banks and Clients mortgage is discharged.
Although you do need to retain the services of a lawyer they dont need to be on the Banks and Clients panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. There's no capital gains tax for you as it is your main residence.
My ex -wife’s name is on the Banks and Clients mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Banks and Clients mortgage in order to sell?
In terms of the Banks and Clients mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Banks and Clients in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.