Examples of recent questions relating to the Mortgage Agency Services Solicitor Panel from members of the public
I need to swap lawyers as my lawyer is not on the Mortgage Agency Services panel of conveyancing solicitors. How easy is it to change conveyancer?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
My property lawyer is asking me for proof of ID documents asserting that this is part of his legal duty as a solicitor on the Mortgage Agency Services Conveyancing panel. Can this be correct?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Mortgage Agency Services your lawyer also has to check ID documents to satisfy Mortgage Agency Services
How up to date is your search tool for the Mortgage Agency Services conveyancing panel? Do Mortgage Agency Services send you an updated list?
The law firm practices themselves provide us confirmation that they are on the Mortgage Agency Services conveyancing panel as opposed to being supplied with a list from Mortgage Agency Services directly.
We're in Wales, First timers purchasing with a mortgage (lender is Mortgage Agency Services , but our solicitor is on the Mortgage Agency Services conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Mortgage Agency Services 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
When it comes to lenders such as Mortgage Agency Services do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I am about to exchange contracts on a purchase with a mortgage from Mortgage Agency Services. The report from my solicitor mentions that Mortgage Agency Services could withdraw their offer before completion. Is this right?
Banks and Building Societies such as Mortgage Agency Services can revoke their mortgage offer although this rarely happens. If Mortgage Agency Services withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a few examples:
- Many mortgage offers have an expiry date. Your lawyer should check this. Mortgage Agency Services may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
- A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
- Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
- Where the lender has to take account a recent change in law
- If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
