Q and A’s regarding the Mortgage Agency Services Conveyancing Panel from members of the public
A conveyancer my husband and I had intended to instruct on a remortgage said he will levy higher legal fees if my mortgage is with Mortgage Agency Services due to their difficult processes! Will I regret using Mortgage Agency Services? Any comments will be appreciated
Mortgage Agency Services conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Mortgage Agency Services conveyancing panel. If they are not, this does add further risk of delay as Mortgage Agency Services will appoint their own solicitors to look after their interest.
My fiance and I are refinancing our maisonette with Mortgage Agency Services. We have a son 18 who lives with us. The solicitor on the Mortgage Agency Services conveyancing panel requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Mortgage Agency Services conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Mortgage Agency Services conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Mortgage Agency Services .This is solely used to protect the Mortgage Agency Services if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Mortgage Agency Services had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am planning to acquire a house and require a conveyancing solicitor in who is on the Mortgage Agency Services conveyancing. Could you point me in the right direction as regards a conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Mortgage Agency Services . We don’t recommend any particular firm.
My grandfather passed away 10 months ago and as sole heir and executor was left the property. The house had a small mortgage remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Mortgage Agency Services , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Mortgage Agency Services will insist on your using a conveyancer on the Mortgage Agency Services 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 Mortgage Agency Services 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 Mortgage Agency Services mortgage is registered as a charge at the Land Registry.
I am buying a property where the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Mortgage Agency Services be concerned
As you are obtaining a mortgage with Mortgage Agency Services your lawyer must to check the Mortgage Agency Services conveyancing instructions contained in the Part of CML Handbook for Mortgage Agency Services . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Mortgage Agency Services where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
My husband and I are in the process of looking at houses and am about to put in an offer. Is it premature to have a solicitor in place? I will be getting a mortgage with Mortgage Agency Services
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Mortgage Agency Services , make sure you remember to check that your lawyer is on the Mortgage Agency Services conveyancing panel.
At last I have had an offer on an apartment accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What do I do now? At what point should I appy for the mortgage with Mortgage Agency Services?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Mortgage Agency Services conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Mortgage Agency Services and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.