Find an Approved Solicitor on the Platform Home Loans Ltd
Platform Home Loans Solicitor Panel Example Support Desk Enquires
On what basis would a firm of solicitors be removed from the Platform Home Loans approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been removed from a lender panel. The most common reasons in order are :
- Low volume of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Platform Home Loans
My god-son is in the process of securing a house that has just been built with a mortgage from Platform Home Loans. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Platform Home Loans 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 Platform Home Loans conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What tools are available to search for a local solicitor on the Platform Home Loans conveyancing panel? I have a car and am prepared to travel up to 20 kilometers to meet the solicitor.
You can use the find a conveyancing panel tool on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Platform Home Loans solicitor panel.
I was expecting to move into my dream home yesterday. My solicitor is on the Platform Home Loans solicitors panel but has changed address 8 weeks ago and had not informed Platform Home Loans of their new address. Platform Home Loans has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Platform Home Loans branch or your mortgage broker to see if they can help.
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Platform Home Loans conveyancing panel requirements are different to Platform Home Loans’s conveyancing panel criteria.
We were going to get a DIP from Platform Home Loans this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Platform Home Loans recommend a solicitor on the Platform Home Loans conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Platform Home Loans conveyancing panel. The solicitor represents both you and the Platform Home Loans through the process.
For 5 years I had a mortgage with Platform Home Loans. My godfather has just retired and wants to pay off my mortgage. After Platform Home Loans 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 Platform Home Loans conveyancing panel? I do not intend to live at the property once the Platform Home Loans mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Platform Home Loans 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.