Find an Approved Solicitor on the West Bromwich Mortgage Company
Common questions asked concerning the West Bromwich Mortgage Company Solicitor Panel
What is the rationale as to why all UK lawyers aren't included on the West Bromwich Mortgage Company Solicitor panel?
West Bromwich Mortgage Company and other lenders normally restrict either the type or the number of conveyancing firms on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that West Bromwich Mortgage Company have no responsibility for the quality of advice provided by any member of West Bromwich Mortgage Company Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
My wife and I intend to remortgage our flat with West Bromwich Mortgage Company. We have a son 19 who lives with us. The solicitor on the West Bromwich Mortgage Company conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the West Bromwich Mortgage Company conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your West Bromwich Mortgage Company 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 West Bromwich Mortgage Company .This is solely used to protect the West Bromwich Mortgage Company 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 West Bromwich Mortgage Company 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.
Do I have to pop into the offices of the West Bromwich Mortgage Company conveyancing panel solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Liverpool
so that I can pop in to their offices if required.
Whereas this was necessary twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Liverpool
I am selling my house. Does my solicitor have to be on the West Bromwich Mortgage Company conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the West Bromwich Mortgage Company 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.
Are all Conveyancing Quality Solicitors on the West Bromwich Mortgage Company conveyancing panel?
It is true that some banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
My wife and I have arranged a further advance on our mortgage from West Bromwich Mortgage Company as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the West Bromwich Mortgage Company conveyancing panel to deal with the paperwork?
West Bromwich Mortgage Company would not normally instruct a member of their conveyancing panel 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 West Bromwich Mortgage Company panel
I have agreed a price on a house I spoke to a lawyer recommended by my dad and he suggested using a property lawyers approved by West Bromwich Mortgage Company. The estate agent recommended two local firms so I asked West Bromwich Mortgage Company if the 2 suggested solicitors are approved, which they are not. West Bromwich Mortgage Company suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of West Bromwich Mortgage Company 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of West Bromwich Mortgage Company to suggest a law firm in your location. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the West Bromwich Mortgage Company conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto West Bromwich Mortgage Company conveyancing panel as it may only take about 2-3 weeks. As long as they meet West Bromwich Mortgage Company’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.