Frequently asked questions relating to the Mortgage Express (No 2) Solicitor Panel
from members of the public
Am I correct in assuming that the fact that my solicitor is not on the Mortgage Express (No 2) Conveyancing panel that there is a problem with the standard of her conveyancing?
That would more than likely be a wrong assumption to make. 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 most common reasons for removal are: (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 Express (No 2).
Our conveyancer has discovered a legal deficiency with the lease for the apartment we are purchasing. The seller’s lawyers have put forward title insurance as a solution. We are content with insurance and will cover the costs. Our solicitor says that as he is on the Mortgage Express (No 2) conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is Mortgage Express (No 2)?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Mortgage Express (No 2) are the client. A precondition to being on the Mortgage Express (No 2) approved panel is to comply with the CML Handbook requirements (last updated for this lender on Mortgage Express (No 2)). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Mortgage Express (No 2) can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Your search tool is useful but there are many lawyers listed near Middlesbrough on the Mortgage Express (No 2) conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Mortgage Express (No 2) approved panel?
We are not in the business of recommending one firm above another 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..
My solicitors in Newcastle have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Mortgage Express (No 2). Is it case that being on the Mortgage Express (No 2) conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender 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 Express (No 2) Conveyancing Panel Terms. It might be worth you contacting Mortgage Express (No 2) directly.
How can we tell if a solicitor on the Mortgage Express (No 2) panel is any good?
obtaining recommendations is a sensible start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor carrying out your transaction
Planning on purchasing a house with a mortgage with Mortgage Express (No 2). I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Mortgage Express (No 2) conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Mortgage Express (No 2) conveyancing panel
Mortgage Express (No 2) have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Mortgage Express (No 2) or your broker and complete any relevant paperwork. Mortgage Express (No 2) will tell you what documents they want. Mortgage Express (No 2) will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Mortgage Express (No 2) will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.