Molo Finance Buy to Let Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers. It is a unique risk mitigation tool.

This system assists the way you can demonstrate to lender panels that you are, and can stay fully compliant with their instructions, with notifications given on Molo Finance Buy to Let’s changes. Even though using COMPLETIONmonitor is not a prerequisite for Molo Finance Buy to Let , demonstrating you can stay up to date with Molo Finance Buy to Let’s Handbook requirements is a helpful support to your panel application and, just as importantly, safeguard your panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces SRA and CQS reports, and will enhance your firm's efficiency. It is also simply to use, cost-effective and, for many firms, results in a PII saving.

Find a Law Firm approved by Molo Finance Buy to Let

Banks and building societies often change their requirements. The UK Finance Lenders’ Handbook requirements from Molo Finance Buy to Let are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes


Since 2008, Molo Finance Buy to Let has made 137 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 19.9 days. In total, 56% of the sections of P2 of the UK Finance Lenders’ Handbook for Molo Finance Buy to Let have been changed since 15/12/2008.

To find out more about lender panel compliance,

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FAQs : The Molo Finance Buy to Let Solicitor Panel from members of the public

My husband and I are hoping to buy a 2 bedroom flat in London with a mortgage from Molo Finance Buy to Let. We would like to retain our solicitor but Molo Finance Buy to Let says he's not on their "panel". It seems we have little choice but to instruct one of the Molo Finance Buy to Let panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Molo Finance Buy to Let conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Molo Finance Buy to Let
Can you help?. For no fault of my lawyer but, my purchase conveyancing has been going on for months. The Local Authority Search from Molo Finance Buy to Let was dated random date and we have agreed a date for me to move into the property on Tues etc. My solicitor says that as she is on the Molo Finance Buy to Let conveyancing panel she needs to redo the searches as they are no longer valid.
A precondition to being on the Molo Finance Buy to Let approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Molo Finance Buy to Let)which specifies that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Molo Finance Buy to Let.
Do I have to pop into the offices of the Molo Finance Buy to Let conveyancing panel solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Leeds so that I can attend their offices when needed.
Whereas this was necessary 12 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 Leeds .
My solicitors in Birmingham have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Molo Finance Buy to Let. Is it case that being on the Molo Finance Buy to Let conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Molo Finance Buy to Let Conveyancing Panel Terms. It might be worth you contacting Molo Finance Buy to Let directly.
Do conveyancing solicitors on the Molo Finance Buy to Let conveyancing panel work on a no move no charge basis?
On the whole there are 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 package
I have a mortgage with Molo Finance Buy to Let. Conveyancing was finalised some time ago. If I am intending 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 Molo Finance Buy to Let?
Molo Finance Buy to Let must be informed of your intention before renting your property as this is likely to be a breach of Molo Finance Buy to Let’s mortgage conditions. It may be that Molo Finance Buy to Let will allow you to rent 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 Molo Finance Buy to Let directly. You need not do this via a Molo Finance Buy to Let conveyancing panel solicitor.
Molo Finance Buy to Let have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Molo Finance Buy to Let or your broker and complete any relevant paperwork. Molo Finance Buy to Let will tell you what documents they want. Molo Finance Buy to Let will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Molo Finance Buy to Let will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.