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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
FAQs for the Kensington Mortgage Solicitor Panel
Much to my surprise I have been told by my estate agent that my solicitor is not on the Kensington Mortgage Conveyancing panel. What can I do to be sure that this is correct?
The best course of action for you to take is to contact your lawyer directly. You lawyer should advise you what has happened. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for Kensington Mortgage.
Our lawyer has uncovered a defect with the lease for the apartment we are purchasing. The seller’s lawyers have offered 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 Kensington Mortgage conveyancing panel he must check that the lender is happy with this solution. Are we the client or is Kensington Mortgage?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Kensington Mortgage are the client. 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). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Kensington Mortgage can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . 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.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Kensington Mortgage conveyancing panel. My lawyer has said that they are on the Kensington Mortgage approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Kensington Mortgage conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Kensington Mortgage solicitor panel.
Please explain the implications if my solicitor is suspended from the Kensington Mortgage Solicitor panel in advance of the moving date as agreed at exchange of contracts?
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.
I have paid off my mortgage with Kensington Mortgage. I assume I don't need a solicitor on the Kensington Mortgage panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Kensington Mortgage 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 Kensington Mortgage mortgage from the register. Kensington Mortgage,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 Kensington Mortgage has sent the Land Registry the discharge electronically, and
the Kensington Mortgage has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Kensington Mortgage mortgage has been paid off.
I have a mortgage with Kensington Mortgage. My uncle has just retired and wants to pay off the mortgage left on the property. After Kensington Mortgage is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Kensington Mortgage conveyancing panel? I do not intend to live at the property once the Kensington Mortgage mortgage is discharged.
You
will need a solicitor but they need not be on the Kensington Mortgage conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
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 booked. My conveyancing solicitor has been instructed. What should be my next step? At what point should I appy for the mortgage with Kensington Mortgage?
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 Kensington Mortgage 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 Kensington Mortgage and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
Other Topics
Transfer of Equity for Kensington MortgagePlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors