Frequently asked questions relating to the The Mortgage Lender Conveyancing Panel
from members of the public
My mortgage broker has has requested my lawyer’ panel reference for the The Mortgage Lender conveyancing panel. What is the best way to discover this. I have tried my local The Mortgage Lender branch but they cant find it on their system.
the sensible thing to do is ask for this information from your solicitor. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for The Mortgage Lender.
I am buying a new build flat and my lawyer is informing me that she has to reveal incentives from the seller as her practice is on the The Mortgage Lender conveyancing panel. The Estate Agents are hassling me to exchange contracts and I dont want to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the The Mortgage Lender approved panel is to comply with the CML Handbook requirements (last updated for this lender on The Mortgage Lender). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Whilst your website is a good idea there are many lawyers listed near Coventry on the The Mortgage Lender conveyancing panel. Can you recommend a specific firm on the The Mortgage Lender approved panel?
We are not in the business of recommending one firm above another 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 am thinking of remortgaging my house does my lawyer need to be on the The Mortgage Lender Solicitor panel?
In theory, you could use a solicitor that is not on The Mortgage Lender conveyancing panel, but The Mortgage Lender 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.
Is it the case that all conveyancing lawyers on the The Mortgage Lender conveyancing panel work on a no move no charge basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
We have a mortgage agreed in principle with The Mortgage Lender. Solicitors have been chosen? How long does it take for The Mortgage Lender to send the offer to our conveyancer
There is no definitive answer here. Have The Mortgage Lender completed the valuation? Have you advised The Mortgage Lender as your lawyers details and checked that your lawyer is on the The Mortgage Lender conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
I was told three weeks ago that my mortgage has been agreed
to by The Mortgage Lender. Is it usual for The Mortgage Lender to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for The Mortgage Lender to deal with your lawyers application to be on the The Mortgage Lender conveyancing panel. There's no guarantee that your solicitors will be accepted.