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My mortgage broker has asked me for my law firm’s panel reference for the First Trust Bank conveyancing panel. What is the best way to find this out. I have tried my local First Trust Bank branch but they have not responded to me.
Have you tried speaking to your lawyer about this?. They should have a central record lender panel numbers including the First Trust Bank panel reference.
My grandson is purchasing a house that has just been built with a mortgage from First Trust Bank. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the First Trust Bank conveyancing panel as a standard part of the process, and to the surveyor when asked.
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 First Trust Bank conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I note that you have a post code search directory listing firms on the First Trust Bank conveyancing panel. Do firms pay you a referral fee if I retain them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the First Trust Bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am selling my house. Does my solicitor have to be on the First Trust Bank conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the First Trust Bank conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Is it the case that all conveyancing solicitors on the First Trust Bank 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 package
Is it common for First Trust Bank to withdraw a mortgage offer and what would be the reasoning?
Banks and Building Societies such as First Trust Bank can withdraw their mortgage offer although this rarely happens. In the unlikely event that First Trust Bank withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a number of examples:
Where information comes to First Trust Bank ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
Many mortgage offers have an expiry date. Your lawyer should check this. First Trust Bank may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
If the borrower informs First Trust Bank of a change in the loan amount agreed
Where to proceed with the Mortgage offer would be unlawful
Where the lender has to take account a recent change in law
I'm at the point of viewing flats and am about to put in an offer. Should I already have a conveyancer appointed at this stage? I will be getting a mortgage with First Trust Bank
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with First Trust Bank , ask your prospective lawyers check they are on the First Trust Bank conveyancing panel otherwise they can't do the mortgage legal work.