Find an Approved Solicitor on the ITL Mortgages
FAQs : The ITL Mortgages Solicitor Panel
Am I correct in assuming that the fact that my conveyancer is not isted on the ITL Mortgages Conveyancing panel that there is a problem with the quality of the firm’s conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for ITL Mortgages.
My nephew is in the process of securing a new build apartment with a mortgage from ITL Mortgages. His solicitor 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 purchase. Therefore, it will be provided to your son’s lawyer who should be on the ITL Mortgages 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 ITL Mortgages conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am planning to acquire a property and require a conveyancing solicitor in Leeds who is on the ITL Mortgages approved. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for ITL Mortgages . We don’t recommend any particular firm.
I am buying a garden flat and getting a mortgage with ITL Mortgages. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the ITL Mortgages conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the ITL Mortgages conveyancing panel in your location.
I have a mortgage with ITL Mortgages. Conveyancing has been completed a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform ITL Mortgages?
You must advise ITL Mortgages before renting your property as this is likely to be a breach of ITL Mortgages’s mortgage conditions. In many cases banks or building societies 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 ITL Mortgages directly. You need not do this via a ITL Mortgages conveyancing panel solicitor.
I am due to exchange contracts on my apartment. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, ITL Mortgages are being problematic. The solicitor who is on the ITL Mortgages conveyancing panel is recommending indemnity insurance as a solution but ITL Mortgages are requiring a building regulation certificate. Why do ITL Mortgages have a conveyancing panel of they don’t accept advice from them?
It is probably the case that ITL Mortgages have referred the matter to their valuer. The reason why ITL Mortgages 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.
At last I have had an offer on an apartment 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 do I do now? When should I get the mortgage app going with ITL 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 ITL 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 ITL Mortgages and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.