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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
Examples of recent questions relating to the Kensington Mortgage Solicitor Panel
My husband and I are buying a 2 bedroom apartment in Hackney with a mortgage from Kensington Mortgage. We would like to retain our solicitor but Kensington Mortgage says he's not on their "panel". It seems we have little choice but to instruct one of the Kensington Mortgage panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Kensington Mortgage use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Kensington Mortgage conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Kensington Mortgage
I do hope you can help me. My conveyancer is advising me that he is legally obliged to order a Local Authority search because the firm are on the Kensington Mortgage conveyancing panel. The searches cost a lot of money. Can this be avoided?
You have limited options available to you. As you are taking a mortgage with Kensington Mortgage your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Kensington Mortgage’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Kensington Mortgage. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I am searching for online conveyancing estimates. Can I be assured that all the practices that are listed on your website are on the Kensington Mortgage conveyancing panel?
The law firms listed on our site have assured us via an online form that they are on the Kensington Mortgage panel and agreed to advise us to take down their listing in the event of removal off of the Kensington Mortgage panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific firm being on the Kensington Mortgage conveyancing panel is not accurate.
I am considering applying for a Kensington Mortgage mortgage for purchase of a newly converted (under development) with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Kensington Mortgage?
There is nothing to stop you using your solicitor but Kensington Mortgage will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Is it the case that all conveyancing lawyers on the Kensington Mortgage conveyancing panel work on a no sale no fee basis?
In the main there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
I'm at the point of viewing apartments and am about to put in an offer. Is it best to have a conveyancer on ‘stand by’? I will be getting a mortgage with Kensington Mortgage
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Kensington Mortgage , ask your prospective lawyers check they are on the Kensington Mortgage conveyancing panel otherwise they can't do the mortgage legal work.
For 5 years I had a mortgage with Kensington Mortgage. My godfather retired last week and wants to pay off my mortgage. After Kensington Mortgage is paid, I want to transfer the property to my mother's name; How long will it roughly 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.
Although you do need to retain the services of a lawyer they dont
need to be on the Kensington Mortgage 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. There's no capital gains tax for you as it is
your main residence.
Other Topics
Transfer of Equity for Kensington MortgagePlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors