Common questions asked concerning the Mortgage Agency Services Solicitor Panel
from members of the public
I appointed a law firm to carry out on my purchase 4 weeks ago having applied for a mortgage with Mortgage Agency Services. The law firm reassured me that they are on Mortgage Agency Services conveyancing panel and provided me their panel number. Mortgage Agency Services then told me that their panel number was dormant and would need to be reactivated. What happens next? Should I appoint a new solicitor currently on the approved panel for Mortgage Agency Services?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the Mortgage Agency Services as to how long they think it will take to get the firm to get back on the panel.
I am purchasing a new build flat and my conveyancer is advising me that she is duty bound to reveal incentives from the builder as her firm is on the Mortgage Agency Services conveyancing panel. I am nearing the developer’s deadline to exchange and my preference is not to prolong matters. Can I insist on an exchange regardless of what my lawyer says about being on the Mortgage Agency Services panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Mortgage Agency Services approved panel is to comply with the CML Handbook requirements (last updated for this lender on Mortgage Agency Services). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Mortgage Agency Services conveyancing panel. My lawyer has said that they are on the Mortgage Agency Services approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Mortgage Agency Services conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Mortgage Agency Services solicitor panel.
My conveyancers in Manchester have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with Mortgage Agency Services. Is it case that being on the Mortgage Agency Services 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 Mortgage Agency Services Conveyancing Panel Terms. It might be worth you contacting Mortgage Agency Services directly.
We are getting a further advance on our mortgage from Mortgage Agency Services as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Mortgage Agency Services conveyancing panel to deal with the paperwork?
Mortgage Agency Services would not normally instruct a member of their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Mortgage Agency Services list
Two weeks ago we had a mortgage agreed in principle with Mortgage Agency Services. Solicitors have been chosen? What is the average time that one could expect to receive a mortgage offer from Mortgage Agency Services?
Some lenders take longer than others. Have Mortgage Agency Services completed the survey? Have you advised Mortgage Agency Services as your lawyers details and checked that your lawyer is on the Mortgage Agency Services conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
We were going to get a DIP from Mortgage Agency Services this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Mortgage Agency Services recommend a solicitor on the Mortgage Agency Services conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Mortgage Agency Services conveyancing panel. The solicitor represents both you and the Mortgage Agency Services through the process.