Molo Finance Buy to Let Conveyancing Panel Recently Asked Questions
from members of the public
On what basis could a firm of solicitors be removed from the Molo Finance Buy to Let approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been removed from a lender panel. The most common reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Molo Finance Buy to Let
Our god-son is in the process of securing a newly built flat with a mortgage from Molo Finance Buy to Let. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
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 Molo Finance Buy to Let conveyancing panel as a standard part of the process, and to the valuer 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 Molo Finance Buy to Let conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Your search tool is useful but there are many lawyers listed near Hackney on the Molo Finance Buy to Let conveyancing panel. Can you recommend a specific firm on the conveyancing panel for Molo Finance Buy to Let ?
We are not in the business of recommending one firm above another 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. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
I was supposed to complete on my dream home two days ago. My solicitor is on the Molo Finance Buy to Let conveyancing panel but has changed address 8 weeks ago and had not informed Molo Finance Buy to Let of their new address. Molo Finance Buy to Let is now refusing to release my funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. 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 Molo Finance Buy to Let branch or your mortgage broker to see if they can assist.
Is it the case that all solicitor firms on the Molo Finance Buy to Let conveyancing panel overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Molo Finance Buy to Let conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I have today made my last payment due on 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. Please confirm
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.
I was told four weeks ago that my mortgage has been agreed
to by Molo Finance Buy to Let. Is it usual for Molo Finance Buy to Let to only issue the offer once my
solicitor is approved on their conveyancing panel?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Molo Finance Buy to Let to deal with your lawyers application to be on the Molo Finance Buy to Let conveyancing panel. There's no guarantee that your solicitors will be accepted.