FAQs : The MPowered Mortgages Conveyancing Panel
from members of the public
I need to swap lawyers as my lawyer is not on the MPowered Mortgages panel of conveyancing solicitors. Is it advisable to appoint a new law firm?
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 solicitor has discovered a difference when comparing the information in MPowered Mortgages’s home valuation survey and what is revealed within the legal papers for the property. My lawyer says that as he is on the MPowered Mortgages conveyancing panel he must ensure that the bank is OK with this discrepancy and is content go ahead. Is my lawyer’s course or action appropriate?
A precondition to being on the MPowered Mortgages approved panel is to comply with the CML Handbook requirements (last updated for this lender on MPowered Mortgages) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. 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 London on the MPowered Mortgages conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the MPowered Mortgages approved panel?
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. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
I was supposed to complete on my flat last Thursday. My solicitor is on the MPowered Mortgages solicitors panel but has changed address 8 weeks ago and had not informed MPowered Mortgages of their new address. MPowered Mortgages is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local MPowered Mortgages branch or your mortgage broker to see if they can help.
Do the majority of lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the MPowered Mortgages conveyancing panel requirements are different to MPowered Mortgages’s conveyancing panel requirements.
After shopping around on the internet I have found a solicitor having checked that they are on the MPowered Mortgages conveyancing panel. Does my lawyer arrange the survey of the property?
I've digested plenty of mortgage guides,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the MPowered Mortgages conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
MPowered Mortgages will need an independent valuation of the property. Your lawyer will not arrange this. Usually MPowered Mortgages will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with MPowered Mortgages you could contact your them to see if they have a list of approved surveyors.
My ex -wife’s name is on the MPowered Mortgages 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 MPowered Mortgages mortgage in order to sell?
In terms of the MPowered Mortgages 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 MPowered Mortgages 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.