Find an Approved Solicitor on the LiveMore Capital
FAQs : The LiveMore Solicitor Panel
Can you please explain the reason why all UK lawyers are not on the LiveMore Conveyancing panel?
Before the recession most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
My grandson is in the process of securing a newly built flat with a home loan from LiveMore. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the transaction. 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 surveyor when requested.
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.
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the LiveMore conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
My house is up for sale and I have a buyer. Does my solicitor have to be on the LiveMore conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the LiveMore conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
My fiance and I are spending time looking at flats and now considering a potential offer. Is it premature to have a solicitor in place? I I am planning to take a home loan with LiveMore
It would be sensible to have your start your search soon rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with LiveMore , ask your prospective lawyers check they are on the LiveMore conveyancing panel otherwise they can't do the mortgage legal work.
I had an offer accepted on a house on the 17th February 2014, valuation was booked five days later, all came back fine. Property lawyer retained, so all that was missing was my mortgage offer. Having made daily calls to LiveMore and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the LiveMore conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for LiveMore to deal with your lawyers application to be on the LiveMore conveyancing panel. There's no guarantee that your solicitors will be accepted.
My ex -wife’s name is on the LiveMore 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 LiveMore mortgage in order to sell?
In terms of the LiveMore 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 LiveMore 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.