Examples of recent questions relating to the The Mortgage Works Solicitor Panel
from members of the public
On what basis could a law firm be removed from the The Mortgage Works approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been excluded from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by The Mortgage Works
My lawyer has discovered a discrepancy between the information in The Mortgage Works’s home valuation survey and what is revealed within the legal papers for the property. My solicitor has advised that as he is on the The Mortgage Works conveyancing panel he is duty bound to check that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s stance legitimate?
A precondition to being on the The Mortgage Works approved panel is to comply with the CML Handbook requirements (last updated for this lender on The Mortgage Works) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
How up to date is your database of lawyers on the The Mortgage Works conveyancing panel? Do The Mortgage Works send you an updated list?
The firms themselves provide us confirmation that they are on the The Mortgage Works conveyancing panel as opposed to being supplied with a list from The Mortgage Works directly.
The lawyers that I appointed last week on my purchase in Newcastle has suddenly closed. They were on acting for me because I needed a firm on the The Mortgage Works conveyancing panel and my previous lawyer was not. I gave them a cheque for £150 in advance. What should be my next steps?
If you have an estate agent involved then let them know straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the The Mortgage Works conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help
Is it the case that all solicitor practices on the The Mortgage Works conveyancing panel regulated by the SRA?
As a firm of solicitors, in order to be on the The Mortgage Works conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
We have had an offer accepted on a flat I spoke to a conveyancer previously used by my dad and he advised using a solicitor approved by The Mortgage Works. The estate agent recommended two local firms so I asked The Mortgage Works if the 2 suggested solicitors are approved, which they are not. The Mortgage Works suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of The Mortgage Works '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 Works 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 Works 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 Works conveyancing panel as it may only take about 2-3 weeks. As long as they meet The Mortgage Works’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.
I have instructed a lawyer having checked that they are on the The Mortgage Works conveyancing panel. Does my lawyer arrange the survey of the property?
Having digested plenty of house buying,I note that they all recommend that you should 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 correct?
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.
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.