The Mortgage Lender Conveyancing Panel : Questions and Answers
from members of the public
Am I correct in assuming that the fact that my conveyancer is not on the The Mortgage Lender Solicitor panel that there is a problem with the quality of his work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for The Mortgage Lender.
I do hope you can help me. My lawyer is informing me me that he has to order a Local Authority search because the firm are on the The Mortgage Lender approved lawyer panel. Do I not have a choice here?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with The Mortgage Lender your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of The Mortgage Lender’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated The Mortgage Lender. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I am looking for competitive conveyancing fees. Can I be confident that all the law firms that are listed on your site are on the The Mortgage Lender conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have assured us via an online form that they are on the The Mortgage Lender panel and agreed to advise us to take down their listing in the event of removal off of the The Mortgage Lender panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the The Mortgage Lender conveyancing panel is incorrect.
I am mortgaging my house does my lawyer need to be on the The Mortgage Lender Conveyancing 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.
Can I be sure that the solicitor on the The Mortgage Lender panel is any good?
Getting recommendations is a good starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor carrying out your transaction
My brother and I have agreed a price on a house I spoke to a conveyancer previously used by my mum and he recommended instructing a law firm approved by The Mortgage Lender. The estate agent recommended two local firms so I asked The Mortgage Lender if the 2 suggested solicitors are approved, which they are not. The Mortgage Lender pointed out that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of The Mortgage Lender 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of The Mortgage Lender for conveyancing panel firms in your area. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the The Mortgage Lender conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto The Mortgage Lender conveyancing panel as it may only take about 2-3 weeks. As long as they meet The Mortgage Lender’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
After shopping around on the internet I have found a solicitor having checked that they are on the The Mortgage Lender conveyancing panel. Does my lawyer arrange the survey of the property?
I've digested plenty of mortgage guides,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the The Mortgage Lender conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
The Mortgage Lender will need an independent valuation of the property. Your lawyer will not arrange this. Usually The Mortgage Lender will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with The Mortgage Lender you could contact your them to see if they have a list of approved surveyors.