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approved by Bluestone Mortgages
Ready to buy a new home? Failing to check that a lawyer is on the Bluestone Mortgages list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Bluestone Mortgages Conveyancing Panel? How can my firm be reinstated onto the Bluestone Mortgages Conveyancing Panel?Find an Approved Solicitor on the Bluestone Mortgages Conveyancing Panel
FAQs : The Bluestone Mortgages Conveyancing Panel
I am hoping to receive a mortgage offer from Bluestone Mortgages. I hope to retain the legal services of a Licensed Conveyancer. Does the Bluestone Mortgages Solicitor panel allow for Licensed Conveyancers
Bluestone Mortgages’s approved solicitor list is, like many other lenders represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My grandson is in the process of securing a house that has just been built with a home loan from Bluestone Mortgages. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Bluestone Mortgages conveyancing panel as a standard part of the process, and to the valuer 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 Bluestone Mortgages 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 Newcastle on the Bluestone Mortgages conveyancing panel. Can you recommend a specific firm on the conveyancing panel for Bluestone Mortgages ?
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..
Can you clarify what the consequences are if my lawyer’s firm is removed from the Bluestone Mortgages Conveyancing panel in advance of the moving date as agreed at exchange of contracts?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Can you point me to a directory of Bluestone Mortgages 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.
In what circumstances might Bluestone Mortgages amend or withdraw their mortgage offer?
Banks and Building Societies such as Bluestone Mortgages can revoke their mortgage offer although this is unusual. should Bluestone Mortgages withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are 5 examples:
- If the borrower informs Bluestone Mortgages of a change in security address
- If the borrower informs Bluestone Mortgages of a change in the loan amount agreed
- A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
- Following advice from the property assessor on their lender panel or If the lender has doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion
- Where the Lender’s right to possession is fettered in some way
My offer on house has been accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What do I do now? At what point should I appy for the mortgage with Bluestone Mortgages?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Bluestone Mortgages conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Bluestone Mortgages and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
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Transfer of Equity for Bluestone MortgagesPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors