Frequently asked questions relating to the The Mortgage Lender Conveyancing Panel
from members of the public
My wife and I are FTBs. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. The Mortgage Lender have this morning contacted us to advise us that they have now hit a problem as our conveyancer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme.
Your solicitors should contact The Mortgage Lender and see if they can apply for membership of the The Mortgage Lender conveyancing panel, but if that is not viable The Mortgage Lender will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the The Mortgage Lender conveyancing panel as you are at liberty to use your preferred lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
We are nearing an exchange and my parents having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender The Mortgage Lender. Apparently, being on the The Mortgage Lender conveyancing panel and acting on their behalf he must inform The Mortgage Lender if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with The Mortgage Lender to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to The Mortgage Lender if you agree, failing which, your lawyer must cease to continue acting.
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the The Mortgage Lender conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I would like to get my ex-husband taken off the mortgage deeds. Can The Mortgage Lender really tell me which solicitor I can or can not retain?
You can use any solicitor you like but The Mortgage Lender then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the The Mortgage Lender solicitors panel
I previously instructed online solicitors based in Bristol who are on the The Mortgage Lender solicitor panel. They are now charging me a separate fee of £135 for dealing with the The Mortgage Lender mortgage. Is this a supplemental conveyancing fee set by The Mortgage Lender?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by The Mortgage Lender but by your lawyers. Some firms on the The Mortgage Lender will charge an ‘acting for lender’ fee and others do not.
I have not been happy with the level or service received from my lawyer. Is there a The Mortgage Lender conveyancing panel complaints department or do I complain directly to the law firm?
Complaining to The Mortgage Lender about their conveyancing panel is unlikely to yield much of a response. Every solicitor firm and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
Planning on purchasing a house with a mortgage with The Mortgage Lender. 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 Lender 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 Lender conveyancing panel
