Find a Law Firm approved by State Bank of India UK
Ready to buy a new home? Failing to check that a lawyer is on the State Bank of India UK list of approved solicitors can put your transaction at risk of delay or failure.
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Conveyancing Panel
State Bank of India UK Conveyancing Panel : Questions and Answers
What is the rationale as to why all property lawyers are not on the State Bank of India UK Conveyancing panel?
As unjust as it may seem for State Bank of India UK to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern State Bank of India UK have restricted their conveyancing panel to a size that they are happy to control. The State Bank of India UK solicitor panel is not the most difficult to join
Our lawyer has discovered a defect with the lease for the apartment we are buying. The seller’s lawyers have offered title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor has advised that as he is on the State Bank of India UK conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or State Bank of India UK?
Just because you have a mortgage offer from State Bank of India UK does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and State Bank of India UK are the client. The appropriate lender requirements must be adhered to by the State Bank of India UK conveyancing panel who has to balance acting for you and State Bank of India UK
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I understood that this was a condition of being on the State Bank of India UK conveyancing panel?
The Council of Mortgage Lenders or BSA do not require 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 State Bank of India UK conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the State Bank of India UK 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 wife and I have arranged a further advance on our mortgage from State Bank of India UK as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the State Bank of India UK conveyancing panel to deal with the legals?
State Bank of India UK would not normally appoint a member of their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the State Bank of India UK list
It is not clear whether my mortgage offer requires a lease extension . I have called into my local branch State Bank of India UK on numerous occasions and told it wasn't a problem and they would lend. My solicitor - who is on the State Bank of India UK 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 State Bank of India UK. Unless your lawyer obtains specific confirmation in writing that State Bank of India UK 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 State Bank of India UK to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
My ex -wife’s name is on the State Bank of India UK 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 State Bank of India UK mortgage in order to sell?
As regards the State Bank of India UK 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 State Bank of India UK 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.