Q and A’s regarding the Molo Finance Buy to Let Solicitor Panel from members of the public
My IFA has says he needs my law firm’s panel reference for the Molo Finance Buy to Let conveyancing panel. How do I find this out. I have contacted my local Molo Finance Buy to Let branch but they have not responded to me.
Have you tried speaking to your lawyer about this?. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Molo Finance Buy to Let.
My conveyancer has discovered a discrepancy between the assumptions in Molo Finance Buy to Let’s home valuation survey and what is revealed within the legal papers for the property. My solicitor informs me that as he is on the Molo Finance Buy to Let conveyancing panel he is duty bound to check that the bank is with this discrepancy and is content go ahead. Is my solicitor’s course or action appropriate?
A precondition to being on the Molo Finance Buy to Let approved panel is to comply with the CML Handbook requirements (last updated for this lender on Molo Finance Buy to Let) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Molo Finance Buy to Let solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
We're in London, FTBs purchasing with a mortgage (lender is Molo Finance Buy to Let , but our lawyer is on the Molo Finance Buy to Let conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Molo Finance Buy to Let conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
I have paid off my mortgage with Molo Finance Buy to Let. I assume I don't need a solicitor on the Molo Finance Buy to Let panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Molo Finance Buy to Let mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Molo Finance Buy to Let mortgage from the register. Molo Finance Buy to Let,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Molo Finance Buy to Let has sent the Land Registry the discharge electronically, and
the Molo Finance Buy to Let has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Molo Finance Buy to Let mortgage has been paid off.
My ex -wife’s name is on the Molo Finance Buy to Let mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Molo Finance Buy to Let mortgage in order to sell?
As regards the Molo Finance Buy to Let mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Molo Finance Buy to Let in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
Sometime soon me and my wife are acquiring a penthouse in Hendon. Conveyancing solicitors in Hendon are preferred to beretained. My brother-in-lawadvised that we make sure that the conveyancer in Hendon is on the Molo Finance Buy to Let solicitors panel. Surely I don't need to do this, do I?
It is not that case that all Hendon conveyancing firms are on the Molo Finance Buy to Let conveyancing panel. 5 people a month use our search tool to locate a Hendon conveyancing solicitor on the on the Molo Finance Buy to Let solicitors pane.