Common questions asked concerning the The Mortgage Works Conveyancing Panel from members of the public
My fiance and I are first time buyers. Within the last couple of days our conveyancer has forwarded the sale agreement to sign with a detailed report in anticipation of exchanging contracts shortly. The Mortgage Works have this evening contacted us to inform me that they have now hit a problem as our lawyer is not on their conveyancing panel. Is this a problem?
If you are buying a property with the assistance 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 property lawyers should contact The Mortgage Works and see if they can apply for membership of the The Mortgage Works conveyancing panel, but if that is not viable The Mortgage Works will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the The Mortgage Works conveyancing panel and you may continue to use your own solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
My fiance and I intend to remortgage our flat with The Mortgage Works. We have a son approaching twenty who lives with us. The solicitor on the The Mortgage Works conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is repossessed. I have two questions (1) Is this form unique to the The Mortgage Works conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your The Mortgage Works conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to The Mortgage Works .This is solely used to protect the The Mortgage Works if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of The Mortgage Works had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the The Mortgage Works conveyancing panel. My lawyer has said that they are on the The Mortgage Works approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the The Mortgage Works conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the The Mortgage Works solicitor panel.
Can you clarify what the consequences are if my lawyer’s firm is suspended from the The Mortgage Works Solicitor panel before the moving date as agreed at exchange of contracts?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I am buying a property where the roof has a solar panel. The Mortgage Works 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 Works your lawyer must to check the The Mortgage Works conveyancing instructions contained in the Part of CML Handbook for The Mortgage Works . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to The Mortgage Works where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
I am selling my house. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, The Mortgage Works are being problematic. The solicitor who is on the The Mortgage Works conveyancing panel is saying indemnity insurance will be fine but The Mortgage Works are insisting on a building regulation certificate. Why do The Mortgage Works have a conveyancing panel of they don’t accept advice from them?
It is probably the case that The Mortgage Works have referred the matter to their valuer. The reason why The Mortgage Works may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
I have instructed a lawyer having made sure that they are on the The Mortgage Works conveyancing panel. Does my lawyer arrange the survey of the property?
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Having digested plenty of house buying,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 Works conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
The Mortgage Works will need an independent valuation of the property. Your lawyer will not arrange this. Usually The Mortgage Works 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.
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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 Works you could contact your them to see if they have a list of approved surveyors.