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approved by ITL Mortgages
Ready to buy a new home? Failing to check that a lawyer is on the ITL Mortgages 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 ITL Mortgages Conveyancing Panel? How can my firm be reinstated onto the ITL Mortgages Conveyancing Panel?
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ITL Mortgages Conveyancing Panel Recently Asked Questions
My mortgage broker has asked me for my lawyer’ panel member for the ITL Mortgages conveyancing panel. What is the best way to discover this. I have e-mailed my local ITL Mortgages branch but they cant find it on their system.
You are best placed to get this information from your conveyancing lawyer. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for ITL Mortgages.
Our lawyer has uncovered a defect with the lease for the apartment we are purchasing. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer says that as he is on the ITL Mortgages conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or ITL Mortgages?
Just because you have a mortgage offer from ITL Mortgages does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and ITL Mortgages are the client. These conveyancing instructions have to be complied with by the ITL Mortgages conveyancing panel who has to balance acting for you and ITL Mortgages
Do lenders provide you with an approved list of solicitors? How do you know who is on the ITL Mortgages conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the ITL Mortgages conveyancing panel as opposed to being supplied with a list from ITL Mortgages directly.
Please explain the implications if my lawyer’s firm is removed from the ITL Mortgages Solicitor panel before the completion date?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Is it the case that all solicitor practices on the ITL Mortgages conveyancing panel regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the ITL Mortgages conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I am currently in the process of buying my council flat. I have a mortgage agreed with ITL Mortgages. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with ITL Mortgages you will need to appoint a solicitor on the ITL Mortgages conveyancing panel.
Planning on purchasing a flat with a mortgage with ITL Mortgages. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the ITL Mortgages conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the ITL Mortgages conveyancing panel