Capital Home Loans Conveyancing Panel Information

The fact of the matter is that estate agents will be suffering if their clients start out on the conveyancing process using a conveyancer who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors .

When a solicitor is acting for both Capital Home Loans and borrower there is potential for conflicts to arise. You owe duties to both clients. All information received by you from your client is confidential and cannot be disclosed without the client’s consent. In the situation you find yourself in if the purchaser will not consent to the information being passed on to the lender the solicitor must cease to act for the Capital Home Loans and it may well be prudent you to cease to act for the purchaser as well. You can not tell the Capital Home Loans the reason for termination of the retainer over and above the fact that a conflict has arisen. The fact that you can no longer act should alert even the most somnambulistic of lenders that something is wrong with the borrower and/or purchase. The fact that you have disinstructed yourself should not affect your Capital Home Loans conveyancing panel status.

Assuming that your practice in is on the Capital Home Loans conveyancing panel and you are acting for them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Capital Home Loans are to lend, they may require indemnity insurance. In any event,you will need to check Capital Home Loans’s specific requirements. Notwithstanding whether Capital Home Loans will lend in such circumstances you still need to advise the borrower (unless you are acting for Capital Home Loans alone) as to the risks of buying a property with an insolvent or absentee landlord.

Your insurance brokers are your best port of call to address this question. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Capital Home Loans solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You need to get in touch with Capital Home Loans to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an individual section for lenders to set out who to contact to obtain standard documents. Capital Home Loans in their Part 2’s state: You will need to quote the firm’s Capital Home Loans conveyancing panel number.