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Accord Buy to Let Conveyancing Panel : Questions and Answers
My husband and I are purchasing a 1 bedroom flat in London with a mortgage from Accord Buy to Let. We have a lawyer but Accord Buy to Let says he's not on their "panel". We have to appoint one of the Accord Buy to Let panel solicitors 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?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Accord Buy to Let 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 Accord Buy to Let
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 Accord Buy to Let will not agree to this. Why was Accord Buy to Let even consulted?
Your lawyer being on the Accord Buy to Let conveyancing panel is duty bound to inform Accord Buy to Let of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Accord Buy to Let then they would have to discontinue acting for you and Accord Buy to Let.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Accord Buy to Let conveyancing panel. My lawyer has said that they are on the Accord Buy to Let approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Accord Buy to Let conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Accord Buy to Let solicitor panel.
I am buying a garden flat and getting a mortgage with Accord Buy to Let. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Accord Buy to Let conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Accord Buy to Let conveyancing panel in your location.
Is it the case that all solicitor firms on the Accord Buy to Let conveyancing panel regulated by the SRA?
As solicitors, in order to be on the Accord Buy to Let conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
We expect to receive a DIP from Accord Buy to Let this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Accord Buy to Let recommend a solicitor on the Accord Buy to Let conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Accord Buy to Let conveyancing panel. The solicitor represents both you and the Accord Buy to Let through the process.
After much negotiation I have agreed a price on an apartment. My financial adviser suggested a solicitor I paid an upfront payment of 200. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Accord Buy to Let conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Accord Buy to Let panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
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Transfer of Equity for Accord Buy to LetPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors