Common questions asked concerning the Magellan Homeloans Solicitor Panel from members of the public
I need to swap lawyers as my lawyer is not on the Magellan Homeloans panel of conveyancing solicitors. How easy is it to change conveyancer?
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.
Our grandson is purchasing a house that has just been built with a home loan from Magellan Homeloans. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Magellan Homeloans conveyancing panel as a standard part of the process, and to the surveyor when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Magellan Homeloans conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
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 choose one who does conveyancing in London
so that I can attend their offices if required.
As opposed to 15 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in London
.
I was scheduled to complete on my dream home two days ago. My solicitor is on the Magellan Homeloans conveyancing panel but has changed address 8 weeks ago and had not informed Magellan Homeloans of their new address. Magellan Homeloans is now refusing to release my funds as the information from the solicitors isn't correct.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Magellan Homeloans branch or your mortgage broker to see if they can assist.
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to move forward? I plan to obtain 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.
Intending to buy a house with a mortgage with Magellan Homeloans. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Magellan Homeloans conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Magellan Homeloans conveyancing panel
I was told three weeks ago that my mortgage has been agreed
to by Magellan Homeloans. Is it usual for Magellan Homeloans to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Magellan Homeloans to deal with your lawyers application to be on the Magellan Homeloans conveyancing panel. There's no guarantee that your solicitors will be accepted.
