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Find an Approved Solicitor on the First Trust Bank Conveyancing Panel

FAQs for the First Trust Bank Conveyancing Panel

My fiance and I are hoping to buy a 3 bedroom apartment in Hackney with a mortgage from First Trust Bank. We like our solicitor but First Trust Bank says she’s not on their "panel". It seems we have little choice but to instruct one of the First Trust Bank panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that First Trust Bank use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the First Trust Bank conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for First Trust Bank
My fiance and I are refinancing our flat with First Trust Bank. We have a son 19 who lives with us. The solicitor on the First Trust Bank conveyancing panel has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of concerns (1) Is this document specific to the First Trust Bank conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to First Trust Bank .This is solely used to protect the First Trust Bank if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.

It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of First Trust Bank had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.

Do I need to have a meeting at the offices of the First Trust Bank conveyancing panel solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Leeds so that I can pop in to their offices if necessary.
Whereas this was necessary twenty 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 attempting to get my ex-wife taken off the mortgage deeds. Can First Trust Bank really insist on which solicitor I can or can not instruct?
You can use any solicitor you like but First Trust Bank then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the First Trust Bank solicitors panel
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 is unusual. In the unlikely event that First Trust Bank 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:
  • 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
  • Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that First Trust Bank conveyancing panel solicitors would be obliged to notify First Trust Bank of a change in the price of the property.
  • Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
  • Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
  • Where the Lender’s right to possession is fettered in some way
I have a mortgage with First Trust Bank. Conveyancing was finalised some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform First Trust Bank?
Your original mortgage agreement with First Trust Bank will provide that you need their approval before letting out your property as this is likely to be a breach of First Trust Bank’s mortgage conditions. It may be that First Trust Bank will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact First Trust Bank directly. It should not be necessary to do this via a First Trust Bank conveyancing panel firm.
My ex -wife’s name is on the First Trust Bank 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 First Trust Bank mortgage in order to sell?
As regards the First Trust Bank 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 First Trust Bank 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.