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approved by Foundation
Ready to buy a new home? Failing to check that a lawyer is on the Foundation list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?
How does my firm apply to be on the Foundation Home Loans Conveyancing Panel? How can my firm be reinstated onto the Foundation Home Loans Conveyancing Panel?Find an Approved Solicitor on the Foundation Home Loans Conveyancing Panel
FAQs for the Foundation Home loans Conveyancing Panel
On what basis could a law firm be excluded from the Foundation Home loans approved conveyancing panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been excluded from a lender panel. The most common reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Foundation Home loans
Our lawyer has discovered a defect with the lease for the property we are buying. The other side have offered title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor says that as he is on the Foundation Home loans conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is Foundation Home loans?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Foundation Home loans are the client. A precondition to being on the Foundation Home loans approved panel is to comply with the CML Handbook requirements (last updated for this lender on Foundation Home loans). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Foundation Home loans can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I require the services of a Foundation Home loans panel solicitor in Belfast. Could you help me?
It is not clear why you need a Foundation Home loans panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Foundation Home loans to find out which solicitors in Foundation Home loans are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
I was scheduled to complete on my first house two days ago. My solicitor is on the Foundation Home loans conveyancing panel but has moved offices 8 weeks ago and had not informed Foundation Home loans of their new address. Foundation Home loans is now refusing to release my funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Foundation Home loans branch or your mortgage broker to see if they can help.
We expect to receive a DIP from Foundation Home loans this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Foundation Home loans recommend a solicitor on the Foundation Home loans conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Foundation Home loans conveyancing panel. The solicitor represents both you and the Foundation Home loans through the process.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Foundation Home loans are being a right pain. The solicitor who is on the Foundation Home loans conveyancing panel is recommending indemnity insurance as a solution but Foundation Home loans are requiring a building regulation certificate. Why do Foundation Home loans have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Foundation Home loans have referred the matter to their valuer. The reason why Foundation Home loans may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
I have instructed a lawyer having checked that they are on the Foundation Home loans conveyancing panel. Does my lawyer arrange the survey of the property?
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Having digested plenty of mortgage guides,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Foundation Home loans conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Foundation Home loans will need an independent valuation of the property. Your lawyer will not arrange this. Usually Foundation Home loans will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
or
Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Foundation Home loans you could contact your them to see if they have a list of approved surveyors.
Other Topics
Transfer of Equity for Foundation Home loansPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors