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approved by JPMorgan
Ready to buy a new home? Failing to check that a lawyer is on the JPMorgan 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 JPMorgan Chase Bank, N.A. Conveyancing Panel? How can my firm be reinstated onto the JPMorgan Chase Bank, N.A. Conveyancing Panel?Find an Approved Solicitor on the JPMorgan Chase Bank, N.A. Conveyancing Panel
Common questions asked concerning the JPMorgan Conveyancing Panel
On what basis would a firm of solicitors be excluded from the JPMorgan solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that 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 JPMorgan
My conveyancer has spotted a discrepancy when comparing the surveyor’s assumptions in JPMorgan’s home valuation survey and what is revealed within the title deeds. My solicitor informs me that as he is on the JPMorgan conveyancing panel he needs to ensure that the lender is with this discrepancy and is content go ahead. Is my conveyancer’s approach appropriate?
A precondition to being on the JPMorgan approved panel is to comply with the CML Handbook requirements (last updated for this lender on JPMorgan) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. 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.
Do banks and building societies provide you with an approved list of solicitors? How do you know who is on the JPMorgan conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the JPMorgan conveyancing panel as opposed to being supplied with a list from JPMorgan directly.
I was scheduled to complete on my first house yesterday. My lawyer’s firm is on the JPMorgan solicitors panel but has changed address in the past couple of months and had not informed JPMorgan of their new address. JPMorgan has locked down the release of mortgage funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. The majority of 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 JPMorgan branch or your mortgage broker to see if they can assist.
Are all conveyancing solicitors on the JPMorgan conveyancing panel regulated by the SRA?
As a firm of solicitors, in order to be on the JPMorgan 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).
My wife and I have arranged a further advance on our mortgage from JPMorgan as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the JPMorgan conveyancing panel to deal with the legals?
JPMorgan do not ordinarily instruct a member of their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the JPMorgan panel
The mortgage over my property is with JPMorgan. Conveyancing has been completed months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform JPMorgan?
You must advise JPMorgan before letting out your property as this is likely to be a breach of JPMorgan’s mortgage conditions. In many cases banks or building societies will permit you to let 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 JPMorgan directly. You need not do this via a JPMorgan conveyancing panel lawyer.
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Transfer of Equity for JPMorganPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors