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FAQs : The LiveMore Conveyancing Panel
My husband and I are purchasing a 1 bedroom apartment in Leeds with a mortgage from LiveMore. We like our solicitor but LiveMore says he's not on their "panel". We have to appoint one of the LiveMore panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the LiveMore 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 solicitors to apply to be on the conveyancing panel for LiveMore
Our nephew is about to exchange on a newly built flat with a mortgage from LiveMore. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the LiveMore conveyancing panel as a standard part of the process, and to the valuer when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the LiveMore conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I note that you have a post code search directory identifying firms on the LiveMore conveyancing panel. Do firms pay you a commission if I retain them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the LiveMore conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am purchasing a terraced house and getting a mortgage with LiveMore. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the LiveMore conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the LiveMore conveyancing panel in your location.
We have a mortgage agreed in principle with LiveMore. Solicitors have been chosen? How long does it take for LiveMore to send the offer to our conveyancer
Some lenders take longer than others. Have LiveMore completed the survey? Have you advised LiveMore as your lawyers details and checked that your lawyer is on the LiveMore conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
My existing mortgage is with LiveMore. My grandfather retired last week and wants to pay off the mortgage left on the property. After LiveMore 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 LiveMore conveyancing panel? I do not intend to live at the property once the LiveMore mortgage is discharged.
You
will need a solicitor but they need not be on the LiveMore 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.
It is not clear whether my mortgage offer requires a lease extension . I have called LiveMore on numerous occasions and told it wasn't a problem and they would lend. My solicitor - who is on the LiveMore 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
Your lawyer has to follow the CML Handbook Part 2 requirements for LiveMore. Unless your lawyer obtains specific confirmation in writing that LiveMore 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 LiveMore to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
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Transfer of Equity for LiveMorePlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors