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approved by Kensington Mortgage
Ready to buy a new home? Failing to check that a lawyer is on the Kensington Mortgage list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Kensington Mortgage Company Ltd Conveyancing Panel? How can my firm be reinstated onto the Kensington Mortgage Company Ltd Conveyancing Panel?Find an Approved Solicitor on the Kensington Mortgage Company Ltd Conveyancing Panel
Frequently asked questions relating to the Kensington Mortgage Solicitor Panel
Am I correct in assuming that the fact that my conveyancer is not identified on the Kensington Mortgage Conveyancing panel that there is a problem with the quality of her 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 top 3 reasons are as follows: (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 Kensington Mortgage.
My conveyancer has spotted a difference when comparing the information in Kensington Mortgage’s valuation survey and what is revealed within the title deeds. My lawyer has advised that as he is on the Kensington Mortgage conveyancing panel he needs to check that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s stance appropriate?
A precondition to being on the Kensington Mortgage approved panel is to comply with the CML Handbook requirements (last updated for this lender on Kensington Mortgage) 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 both parties.
Do all mortgage companies provide you with an approved list of solicitors? How do you know who is on the Kensington Mortgage conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the Kensington Mortgage conveyancing panel as opposed to being supplied with a list from Kensington Mortgage directly.
Please explain the implications if my lawyer’s firm is expelled from the Kensington Mortgage Conveyancing panel prior to the completion date?
The first thing to point out is that, this is very unlikely to happen. 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 at a cost.
How can we tell if a solicitor on the Kensington Mortgage panel is any good?
Getting recommendations is a sensible start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor carrying out your conveyancing
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have telephoned Kensington Mortgage on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Kensington Mortgage conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
As long as the conveyancer is on the Kensington Mortgage panel she or he must comply with the CML Handbook requirements for Kensington Mortgage. Unless your lawyer obtains specific confirmation in writing that Kensington Mortgage will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Kensington Mortgage to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
My ex -wife’s name is on the Kensington Mortgage mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Kensington Mortgage mortgage in order to sell?
As regards the Kensington Mortgage mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Kensington Mortgage in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
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Transfer of Equity for Kensington MortgagePlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors