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approved by GE Money
Ready to buy a new home? Failing to check that a lawyer is on the GE Money list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the GE Money Home Lending Ltd Conveyancing Panel? How can my firm be reinstated onto the GE Money Home Lending Ltd Conveyancing Panel?Find an Approved Solicitor on the GE Money Home Lending Ltd Conveyancing Panel
Q and A’s regarding the GE Money Conveyancing Panel
Is the fact that my solicitor is not on the GE Money Solicitor panel that there is a problem with the quality of his conveyancing?
That would more than likely be a wrong assumption to make. 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 top 3 reasons are as follows: (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 GE Money.
We are getting closer to an exchange and my mum and dad having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender GE Money. I am advised that, being on the GE Money conveyancing panel and acting on their behalf he must inform GE Money if the balance of the mortgage advance is not just from me. I disclosed to the bank about my parent’s contribution when I applied for the home loan so is it really necessary for him to raise this?
Your lawyer is obliged to check with GE Money to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to GE Money if you agree, failing which, your lawyer must cease to continue acting.
I see that you have a search directory identifying firms on the GE Money conveyancing panel. Do firms pay you a referral fee if I instruct them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the GE Money conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My lawyers in Manchester have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with GE Money. Is it case that being on the GE Money conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the GE Money Conveyancing Panel Terms. It might be worth you contacting GE Money directly.
Can you point me to a directory of GE Money panel conveyancers on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
Is it the case that all conveyancing solicitors on the GE Money conveyancing panel regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the GE Money conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to proceed? I hope to get a mortgage with GE Money. Is there anyway to cut out the solicitors to save on the costs? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with GE Money involved you will need to appoint a solicitor on the GE Money conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to GE Money. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the GE Money conveyancing panel.
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Transfer of Equity for GE MoneyPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors