Frequently asked questions relating to the The Mortgage Business Solicitor Panel
from members of the public
I have been advised by my broker that I have to pay The Mortgage Business fees should I instruct my family lawyer. How efficient are the The Mortgage Business conveyancing panel solicitors? I dont care which law firm I use provided that they are good and reasonably priced. Would you recommend a specific law firm on the The Mortgage Business panel?
The Mortgage Business’s conveyancing panel is pretty large so it would be advisable to check with the firms you are getting quotes from whether they are on it. You can search by postcode on the search tool on this site to find solicitors that The Mortgage Business will allow to act for them.
Can you help?. For no fault of my lawyer but, my purchase conveyancing 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 solicitor has advised that as she is on the The Mortgage Business conveyancing panel she needs to redo the searches as they are now out of date.
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 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to The Mortgage Business.
I see that you have a post code search directory identifying solicitors on the The Mortgage Business conveyancing panel. Do firms pay you a commission if I appoint them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the The Mortgage Business conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My lawyers in Liverpool have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with The Mortgage Business. Is it case that being on the The Mortgage Business conveyancing panel they need to have retained the file for a number of years?
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 The Mortgage Business Conveyancing Panel Terms. It might be worth you contacting The Mortgage Business directly.
When it comes to lenders such as The Mortgage Business do solicitors have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. The Mortgage Business have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with The Mortgage Business your lawyer must to check the The Mortgage Business conveyancing instructions contained in the Part of CML Handbook for The Mortgage Business . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to The Mortgage Business where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
I am currently in the process of buying my council flat. I have a mortgage agreed with The Mortgage Business. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with The Mortgage Business you will need to appoint a solicitor on the The Mortgage Business conveyancing panel.