Examples of recent questions relating to the Magellan Homeloans Solicitor Panel from members of the public
My financial adviser has informed me that I have to pay Magellan Homeloans fees if I use my own solicitor. How efficient are the Magellan Homeloans conveyancing panel solicitors? I'm happy to use any solicitor in the country TBH provided that they are good and not exorbitantly priced. Are there any Magellan Homeloans conveyancers you'd recommend?
Magellan Homeloans’s conveyancing panel is pretty large so your best bet is just to check with the firms you are getting quotes from that they are on the panel. You can search by postcode on the search tool on this site to find solicitors that Magellan Homeloans will allow to act for them.
Our lawyer has identified a legal deficiency with the lease for the property we are purchasing. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer says that as he is on the Magellan Homeloans conveyancing panel he must check that the lender is happy with this solution. Are we the client or is Magellan Homeloans?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Magellan Homeloans are the client. A precondition to being on the Magellan Homeloans approved panel is to comply with the CML Handbook requirements (last updated for this lender on Magellan Homeloans). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Magellan Homeloans can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Is it necessary during the course of the conveyancing process to attend the offices of the Magellan Homeloans conveyancing panel solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Manchester
so that I can attend their offices if necessary.
Most conveyancing panel lawyers for Magellan Homeloans 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 aunt passed away six months ago and as sole heir and executor was left the house. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Magellan Homeloans , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Magellan Homeloans will insist on your using a conveyancer on the Magellan Homeloans 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 Magellan Homeloans 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 Magellan Homeloans mortgage is registered as a charge at the Land Registry.
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to move forward? I hope to get a mortgage with Magellan Homeloans. Is there anyway to cut out the solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Magellan Homeloans involved you will need to appoint a solicitor on the Magellan Homeloans conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Magellan Homeloans. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Magellan Homeloans conveyancing panel.
I am currently in the process of buying my council flat. I have a mortgage offer with Magellan Homeloans. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Magellan Homeloans you will need to appoint a solicitor on the Magellan Homeloans conveyancing panel.
The mortgage over my property is with Magellan Homeloans. Conveyancing was finalised 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Magellan Homeloans?
Your original mortgage agreement with Magellan Homeloans will provide that you need their approval prior to renting your property as this is likely to be a breach of Magellan Homeloans’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Magellan Homeloans directly. It should not be necessary to do this via a Magellan Homeloans conveyancing panel lawyer.