Find an Approved Solicitor on the Foundation Home Loans
Conveyancing Panel
Foundation Home loans Conveyancing Panel : Questions and Answers
I am selling my flat and the estate agent has just called to warn that the purchasers are switching law firm. The excuse is that Foundation Home loans will only deal with property lawyers on their approved list. Why would a big named mortgage company only work with specific lawyers?
Banks have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
My son-in-law is in the process of securing a house that has just been built with a mortgage from Foundation Home loans. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Foundation Home loans conveyancing panel as a standard part of the process, and to the valuer 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 Foundation Home loans conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Whilst your website is a good idea there are many lawyers listed near Coventry on the Foundation Home loans conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Foundation Home loans ?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
My aunt passed away six months ago and as sole heir and executor was left the property. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Foundation Home loans , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Foundation Home loans will insist on your using a conveyancer on the Foundation Home loans conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Foundation Home loans conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Foundation Home loans mortgage is registered as a charge at the Land Registry.
I have today made my last payment due on mortgage with Foundation Home loans. I assume I don't need a solicitor on the Foundation Home loans panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Foundation Home loans mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Foundation Home loans mortgage from the register. Foundation Home loans,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Foundation Home loans has sent the Land Registry the discharge electronically, and
the Foundation Home loans has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Foundation Home loans mortgage has been paid off.
On the whole I have been dissatisfied with the level or service received from my lawyer. Is there a Foundation Home loans conveyancing panel complaints department or do I complain directly to the law firm?
There is little point in complaining directly to Foundation Home loans. Every solicitor firm and conveyancer must have a complaints procedure. Usually one can find this information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is properly dealt with by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
My husband and I are acquiring a house in Hendon. Conveyancing solicitors in Hendon need to beretained. My colleagueadvised that we check that the conveyancer in Hendon is on the Foundation Home loans solicitors panel. Aren't all lawyers on the Foundation Home loans panel?
It is not that case that all Hendon conveyancing solicitors are on the Foundation Home loans conveyancing panel. 7 people a month use our search tool to search for a
Hendon conveyancing firm on the on the Foundation Home loans approved list of lawyers.