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Ready to buy a new home? Failing to check that a lawyer is on the Fleet 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 Fleet Mortgages Conveyancing Panel? How can my firm be reinstated onto the Fleet Mortgages Conveyancing Panel?Find an Approved Solicitor on the Fleet Mortgages Conveyancing Panel
Q and A’s regarding the Fleet Mortgages Solicitor Panel
The conveyancer I had intended to instruct on a purchase said he would charge more if my lender is because of their unusual legal requirements. Am I likely to be frustrated using Fleet Mortgages? Is Fleet Mortgages conveyancing so much more difficult?
Fleet Mortgages conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Fleet Mortgages conveyancing panel. If they are not, this does add further risk of delay as Fleet Mortgages will appoint their own solicitors to look after their interest.
I am buying a newly constructed apartment and my solicitor is informing me that she is duty bound to reveal incentives from the developer as her firm is on the Fleet Mortgages conveyancing panel. I am nearing the developer’s deadline to exchange and I have no desire to prolong matters. 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 Fleet Mortgages approved panel is to comply with the CML Handbook requirements (last updated for this lender on Fleet Mortgages). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Fleet Mortgages conveyancing panel. My lawyer has said that they are on the Fleet Mortgages approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Fleet Mortgages conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Fleet Mortgages solicitor panel.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Fleet Mortgages conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Fleet Mortgages 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.
I previously instructed online solicitors located in Cardiff who are on the Fleet Mortgages solicitor panel. They are now charging me a separate fee of £175 for dealing with the Fleet Mortgages mortgage. Is this a supplemental conveyancing fee specified by Fleet Mortgages?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Fleet Mortgages but by your lawyers. Some firms on the Fleet Mortgages will charge an ‘acting for lender’ fee and others do not.
How can we tell if a solicitor on the Fleet Mortgages panel is any good?
Getting recommendations is a good start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer handling your transaction
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 should be my next step? At what point should I appy for the mortgage with Fleet 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 Fleet 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 Fleet 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 Fleet MortgagesPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors