The Mortgage Business Solicitor Panel Sample Enquires to our Call Center from members of the public
I instructed a law firm to conveyancing on my house purchase 5 weeks ago having applied for a mortgage with The Mortgage Business. The solicitors confirmed to me that they are on The Mortgage Business conveyancing panel and provided me their panel reference. The Mortgage Business then ,via my broker advised that their panel number was dormant and would need to be reactivated. What do I do from here? Do I instruct a different law firm currently on the conveyancing panel for The Mortgage Business?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the The Mortgage Business conveyancing panel You may wish to enlist the help of your broker to check with the The Mortgage Business as to how long they think it will take to get the firm to get back on the panel.
Can you clarify something for me?. My lawyer is not to blame but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from The Mortgage Business was issued random date and we have agreed a date for me to move into the property on 10 days inc Day of week eg. Mon. My lawyer says that as she is on the The Mortgage Business conveyancing panel she needs to redo the searches as they are no longer acceptable to the lender.
A precondition to being on the The Mortgage Business approved panel is to comply with the CML Handbook requirements (last updated for this lender on The Mortgage Business)which states that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to The Mortgage Business.
I am buying a property and require a conveyancing solicitor in Manchester who is on the The Mortgage Business solicitor. 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 The Mortgage Business . We don’t recommend any particular firm.
I am thinking of mortgaging my house does my lawyer need to be on the The Mortgage Business Solicitor panel?
In theory, you could use a solicitor that is not on The Mortgage Business conveyancing panel, but The Mortgage Business would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
We expect to receive a DIP from The Mortgage Business this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the The Mortgage Business recommend a solicitor on the The Mortgage Business conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the The Mortgage Business conveyancing panel. The solicitor represents both you and the The Mortgage Business through the process.
My existing mortgage is with The Mortgage Business. My father has just retired and wants to pay off the mortgage left on the property. After The Mortgage Business 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 The Mortgage Business conveyancing panel? I do not intend to live at the property once the The Mortgage Business mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the The Mortgage Business 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.
Intending to buy a flat with a mortgage with The Mortgage Business. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the The Mortgage Business 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 The Mortgage Business conveyancing panel
