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approved by AtomBank
Ready to buy a new home? Failing to check that a lawyer is on the AtomBank list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Atom Bank plc Conveyancing Panel
Q and A’s regarding the Atom Bank Solicitor Panel
What is the rationale as to why all property lawyers aren't included on the Atom Bank Conveyancing panel?
Before the recession most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Atom Bank will not agree to this. Why was Atom Bank even consulted?
Your lawyer being on the Atom Bank conveyancing panel is duty bound to inform Atom Bank of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Atom Bank then they would have to discontinue acting for you and Atom Bank.
Do I need to pop into the offices of the Atom Bank conveyancing panel solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Bristol
so that I can pop in to their offices if necessary.
Most conveyancing panel lawyers for Atom Bank undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
My grandmother passed away 10 months ago and as sole heir and executor was left the house. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Atom Bank , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Atom Bank will insist on your using a conveyancer on the Atom Bank conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Atom Bank conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Atom Bank mortgage is registered as a charge at the Land Registry.
Are all conveyancing solicitors on the Atom Bank conveyancing panel regulated by the SRA?
As solicitors, in order to be on the Atom Bank conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
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 Atom Bank conveyancing panel requirements are different to Atom Bank’s conveyancing panel criteria.
Me and my partner are acquiring a 1st floor apartment in Hendon. Conveyancing solicitors in Hendon are about to beappointed. My brokerrecommended that we double-check that the conveyancing practitioner in Hendon is on the Atom Bank solicitors panel. Surely I don't need to do this, do I?
It is not that case that all Hendon conveyancing solicitors are on the Atom Bank conveyancing panel. Use the above search tool to find a Hendon conveyancing firm on the on the Atom Bank approved list of lawyers.