FAQs : The GE Money Conveyancing Panel from members of the public
How easy is it to change a solicitor as I need to find one who is on the GE Money conveyancing panel. Is it practical to instruct different lawyers?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
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 GE Money will not agree to this. Why was GE Money even consulted?
Your lawyer being on the GE Money conveyancing panel is duty bound to inform GE Money of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to GE Money then they would have to discontinue acting for you and GE Money.
Whilst your website is a good idea there are many lawyers listed near Coventry on the GE Money conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for GE Money ?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I am selling my house. Does my solicitor have to be on the GE Money conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the GE Money 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.
Do conveyancing solicitors on the GE Money conveyancing panel work on a no sale no fee basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
For 5 years I had a mortgage with GE Money. My uncle has just retired and wants to pay off my mortgage. After GE Money is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the GE Money conveyancing panel? I do not intend to live at the property once the GE Money mortgage is discharged.
You
will need a solicitor but they need not be on the GE Money conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
After much negotiation I have agreed a price on an apartment. My financial adviser pressured me to appoint their lawyers I paid an upfront payment of 175. Soon after the conveyancers contacted me sheepishly admitting that they were not on the GE Money 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 GE Money 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.
