FAQs for the Mortgage Express (No 2) Conveyancing Panel
from members of the public
My husband and I are purchasing a 1 bedroom apartment in Hackney with a mortgage from Mortgage Express (No 2). We have a lawyer but Mortgage Express (No 2) says she’s not on their "panel". It seems we have little choice but to instruct one of the Mortgage Express (No 2) panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Mortgage Express (No 2) conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Mortgage Express (No 2)
We are approaching an exchange and my parents having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Mortgage Express (No 2). I am advised that, being on the Mortgage Express (No 2) conveyancing panel and acting on their behalf he must inform Mortgage Express (No 2) if the balance of the mortgage advance is coming from anyone other than me. I advised the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Mortgage Express (No 2) to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Mortgage Express (No 2) if you agree, failing which, your lawyer must cease to continue acting.
How do I search for a local solicitor on the Mortgage Express (No 2) conveyancing panel? I have a car and am prepared to travel up to 10 miles to meet the solicitor.
Feel free to make use of the find a conveyancing panel search on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Mortgage Express (No 2) solicitor panel.
My grandmother passed away 10 months ago and as sole heir and executor was left the house. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Mortgage Express (No 2) , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Mortgage Express (No 2) will insist on your using a conveyancer on the Mortgage Express (No 2) 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 Express (No 2) 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 Express (No 2) mortgage is registered as a charge at the Land Registry.
Are all Conveyancing Quality Solicitors on the Mortgage Express (No 2) conveyancing panel?
A selection of lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
My ex -wife’s name is on the Mortgage Express (No 2) mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Mortgage Express (No 2) mortgage in order to sell?
As regards the Mortgage Express (No 2) mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Mortgage Express (No 2) in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
At last I have had an offer on an apartment accepted, but there is a chain. 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? When should I get the mortgage app going with Mortgage Express (No 2)?
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 Express (No 2) 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 Express (No 2) and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.