Aviva Equity Release Conveyancing Panel Information

Lexsure only know of two or three lenders that operate a distinct conveyancing panel where the mortgage advance is over a certain level. You should nevertheless check directly with Aviva Equity Release. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Aviva Equity Release

You might expect Aviva Equity Release via their Part Two conditions to address this but the Handbook makes no mention on deadlines to send deeds. You need to look at the Terms of Aviva Equity Release’s Conveyancing Panel Appointment that you previously signed. For a number of banks these Terms include a clause such as: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is important to keep Aviva Equity Release updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

Aviva Equity Release approved solicitors have to comply with the UK Finance Lenders’ Handbook instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if Aviva Equity Release require, the deed of covenant on their behalf. You will need to check Aviva Equity Release CML Part 2 conditions to see if Aviva Equity Release have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the Aviva Equity Release conveyancing panel

In this situation please explain on the form what steps you have taken to find out the reasons behind cancellation of your Aviva Equity Release panel membership. In particular please provide details if you have received communications from the lender. E.G. before revocation of your panel membership did you receive any letters or calls from the lender informing you as to why they reached this decision?

You should contact Aviva Equity Release to obtain standard documents. The CML Handbook has an individual inquiry for banks to reveal who to contact to obtain standard documents. Aviva Equity Release in their Part 2’s state: It helps to quote the firm’s Aviva Equity Release conveyancing panel reference.