Common questions asked concerning the Rely Mortgages Conveyancing Panel
from members of the public
Much to my surprise I have been told by my broker that my property lawyer is not on the Rely Mortgages Solicitor panel. How can I be sure that this is correct?
The first thing you need to do is to contact your conveyancer. You lawyer should advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the the approved Rely Mortgages solicitor panel.
My grandson is in the process of securing a newly built flat with a mortgage from Rely Mortgages. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Rely Mortgages conveyancing panel as a standard part of the process, and to the valuer when requested.
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 Rely Mortgages conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am purchasing a property and require a conveyancing solicitor in Leeds who is on the Rely Mortgages conveyancing. Can you recommend a local conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Rely Mortgages . We don’t recommend any particular firm.
I am thinking of mortgaging my flat does my lawyer have to be on the Rely Mortgages Solicitor panel?
There is nothing to stop you using your solicitor but Rely Mortgages will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Is there a list of Rely Mortgages panel solicitors on the CML Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
My existing mortgage is with Rely Mortgages. My father has just retired and wants to pay off my mortgage. After Rely Mortgages 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 Rely Mortgages conveyancing panel? I do not intend to live at the property once the Rely Mortgages mortgage is discharged.
You
will need a solicitor but they need not be on the Rely Mortgages 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. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
It is not clear whether my mortgage offer requires a lease extension . I have called Rely Mortgages on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Rely Mortgages conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 requirements for Rely Mortgages. Unless your lawyer obtains specific confirmation in writing that Rely Mortgages will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Rely Mortgages to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.