Find an Approved Solicitor on the Capital Home Loans
Common questions asked concerning the Capital Home Loans Conveyancing Panel
My lawyer has never been on on the Capital Home Loans Approved Panel. Is it possible for me to use my preferred solicitor even though they are excluded from the Capital Home Loans approved list?
You have a number of options available to you here:
- Complete the purchase with your existing solicitors but Capital Home Loans will need to instruct a lawyer on the Capital Home Loans conveyancing panel. This will result in additional cost and potential delay.
- Get a new solicitor to act in the purchase, obviously checking they are on the Capital Home Loans conveyancing panel.
- Convince your lawyer to do everything within their powers to join the Capital Home Loans conveyancing panel
I am purchasing a newly constructed duplex and my lawyer is informing me that she is duty bound to reveal incentives from the seller as her firm is on the Capital Home Loans conveyancing panel. I am under pressure to sign contracts and my preference is not to prolong deal. 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 Capital Home Loans approved panel is to comply with the CML Handbook requirements (last updated for this lender on Capital Home Loans). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do I need to visit the offices of the Capital Home Loans conveyancing panel solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Leeds
so that I can attend their offices if necessary.
As opposed to ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Leeds
I am buying a right to buy flat and getting a mortgage with Capital Home Loans. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Capital Home Loans conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Capital Home Loans conveyancing panel in your location.
I am about to exchange contracts on a purchase with a mortgage from Capital Home Loans. The report from my solicitor mentions that Capital Home Loans could withdraw their offer before completion. Is this right?
Banks and Building Societies such as Capital Home Loans can withdraw their mortgage offer although this rarely happens. In the unlikely event that Capital Home Loans withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are various possible reasons but here are a number of examples:
If the borrower informs Capital Home Loans of a change in the loan amount agreed
Where to proceed with the Mortgage offer would be unlawful
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 is on notice of a restriction or a right of pre-emption which is not at market value
If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
I have had an offer accepted on a flat I spoke to a conveyancer recommended by my dad and he suggested using a law firm approved by Capital Home Loans. The estate agent recommended two local firms so I asked Capital Home Loans if the 2 suggested solicitors are approved, which they are not. Capital Home Loans suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Capital Home Loans 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Capital Home Loans for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Capital Home Loans 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 Capital Home Loans conveyancing panel as it may only take about 2-3 weeks. As long as they meet Capital Home Loans’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.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called Capital Home Loans on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Capital Home Loans conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 requirements for Capital Home Loans. Unless your lawyer obtains specific confirmation in writing that Capital Home Loans will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Capital Home Loans to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
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Please note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors