FAQs for the Mortgage Agency Services Solicitor Panel from members of the public
Am I correct in assuming that the fact that my solicitor is not isted on the Mortgage Agency Services Solicitor panel that there is a problem with the quality of her work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Mortgage Agency Services.
My grandson is in the process of securing a newly built flat with a mortgage from Mortgage Agency Services. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Mortgage Agency Services conveyancing panel as a standard part of the process, and to the surveyor when asked.
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 Mortgage Agency Services conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Whilst your website is a good idea there are many lawyers listed near London on the Mortgage Agency Services conveyancing panel. Can you recommend a specific firm on the conveyancing panel for Mortgage Agency Services ?
We do not recommend specific firms 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. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I am buying a garden flat and getting a mortgage with Mortgage Agency Services. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Mortgage Agency Services conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Mortgage Agency Services conveyancing panel in your location.
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to proceed? I hope to get a mortgage with Mortgage Agency Services. Is it possible to avoid using solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Mortgage Agency Services involved you will need to appoint a solicitor on the Mortgage Agency Services conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Mortgage Agency Services. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Mortgage Agency Services conveyancing panel.
I have today made my last payment due on mortgage with Mortgage Agency Services. I assume I don't need a solicitor on the Mortgage Agency Services panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Mortgage Agency Services 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 Mortgage Agency Services mortgage from the register. Mortgage Agency Services,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 Mortgage Agency Services has sent the Land Registry the discharge electronically, and
the Mortgage Agency Services has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Mortgage Agency Services mortgage has been paid off.
For 5 years I had a mortgage with Mortgage Agency Services. My grandfather retired last week and wants to pay off the mortgage left on the property. After Mortgage Agency Services is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Mortgage Agency Services conveyancing panel? I do not intend to live at the property once the Mortgage Agency Services mortgage is discharged.
You
will need a solicitor but they need not be on the Mortgage Agency Services conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.
