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approved by St James Place
Ready to buy a new home? Failing to check that a lawyer is on the St James Place 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 St James Place Bank Conveyancing Panel? How can my firm be reinstated onto the St James Place Bank Conveyancing Panel?Find an Approved Solicitor on the St James Place Bank Conveyancing Panel
FAQs : The St James Place Conveyancing Panel
My husband and I are buying a 2 bedroom flat in London with a mortgage from St James Place. We like our lawyer but St James Place says she’s not on their "panel". It seems we have little choice but to instruct one of the St James Place panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the St James Place 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for St James Place
My lawyer has uncovered an inconsistency when comparing the information in St James Place’s valuation survey and what is revealed within the legal papers for the property. My lawyer says that as he is on the St James Place conveyancing panel he needs to ensure that the lender is with this discrepancy and is still content to lend. Is my lawyer’s course or action appropriate?
A precondition to being on the St James Place approved panel is to comply with the CML Handbook requirements (last updated for this lender on St James Place) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I need to find a St James Place panel solicitor in Inverness. Can you assist?
It is not clear why you need a St James Place panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to St James Place to find out which solicitors in St James Place 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
I was scheduled to complete on my flat last Thursday. My lawyer’s firm is on the St James Place solicitors panel but has changed address 8 weeks ago and had not advised St James Place of their new address. St James Place has locked down the release of mortgage funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. 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 St James Place branch or your mortgage broker to see if they can assist.
In what circumstances might St James Place amend or withdraw their mortgage offer?
Banks and Building Societies such as St James Place can withdraw their mortgage offer although this is unusual. If St James Place withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a few examples:
- If the financial circumstances of the borrower have changed to the detriment and the St James Place has been notified
- Where to proceed with the Mortgage offer would be unlawful
- Following advice from the valuer on their lender panel or If the lender has doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion
- Where the lender has to take account a recent change in taxation
- Where the sale is not at arms length for value to unconnected persons
I have a mortgage with St James Place. Conveyancing has been completed some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform St James Place?
You must advise St James Place in advance of letting out your property as this is likely to be a breach of St James Place’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact St James Place directly. You need not do this via a St James Place conveyancing panel solicitor.
My husband and I are taking a long lease of a flat in Hendon. Conveyancing solicitors in Hendon are about to begiven the go-ahead. My fatherrecommended that we double-check that the property lawyer in Hendon is on the St James Place panel. Is this really necessary?
It is not that case that all Hendon conveyancing firms are on the St James Place conveyancing panel. 8 people a month use our search tool to locate a Hendon conveyancing lawyer on the on the St James Place approved list of lawyers.
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