Examples of recent questions relating to the The Mortgage Works Conveyancing Panel from members of the public
A lawyer I wanted to use for conveyancing on a remortgage said she will levy higher legal fees if my mortgage is with The Mortgage Works because of their unusual legal requirements. Am I likely to be frustrated using The Mortgage Works? Any comments will be appreciated
The Mortgage Works conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the The Mortgage Works conveyancing panel. If they are not, this does add further risk of delay as The Mortgage Works will appoint their own solicitors to look after their interest.
My grandson is buying a newly built flat with a home loan from The Mortgage Works. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the The Mortgage Works conveyancing panel as a standard part of the process, and to the surveyor when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the The Mortgage Works conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Your search tool is useful but there are many lawyers listed near Hackney on the The Mortgage Works conveyancing panel. Can you recommend a specific firm on the The Mortgage Works approved panel?
We do not recommend specific firms 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. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
We're in Wales, FTBs buying with a mortgage (lender is The Mortgage Works , but our lawyer is on the The Mortgage Works conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the The Mortgage Works conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Do conveyancing solicitors on the The Mortgage Works conveyancing panel work on a no sale no fee basis?
On the whole there are 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 service
We are getting a further advance on our mortgage from The Mortgage Works as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the The Mortgage Works conveyancing panel to deal with the legals?
The Mortgage Works do not ordinarily instruct firms on their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the The Mortgage Works list
I recently had an offer accepted on an apartment. My financial adviser suggested a solicitor I paid an upfront payment of 225. Soon after the conveyancers contacted me sheepishly admitting that they were not on the The Mortgage Works conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the The Mortgage Works panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.