Find an Approved Solicitor on the Secure Trust Bank PLC
Examples of recent questions relating to the Secure Trust Bank Solicitor Panel
Am I correct in assuming that the fact that my solicitor is not on the Secure Trust Bank Solicitor panel that there is a problem with the quality of his conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Secure Trust Bank.
My partner and I changing mortgage lender for our flat with Secure Trust Bank. We have a son approaching twenty who lives with us. The solicitor on the Secure Trust Bank conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the Secure Trust Bank conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Secure Trust Bank conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Secure Trust Bank .This is solely used to protect the Secure Trust Bank if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Secure Trust Bank had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I need to find a Secure Trust Bank panel solicitor in Belfast. Can you assist?
It is not clear why you need a Secure Trust Bank panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Secure Trust Bank to find out which solicitors in Secure Trust Bank are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
Please explain the implications if my lawyer’s firm is suspended from the Secure Trust Bank Conveyancing panel prior to completion?
First, this is a very rare occurrence. 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 for a fee.
When it comes to mortgage companies such as Secure Trust Bank do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I previously instructed online conveyancers located in Birmingham who are on the Secure Trust Bank solicitor panel. They have just invoiced me a separate fee of £195 for the legal aspects of the Secure Trust Bank mortgage. Is this an additional conveyancing fee set by Secure Trust Bank?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Secure Trust Bank but by your lawyers. Some firms on the Secure Trust Bank will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
Do the majority of lenders 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 Secure Trust Bank conveyancing panel requirements are different to Secure Trust Bank’s conveyancing panel requirements.