Find a Law Firm
approved by Magellan Homeloans
Ready to buy a new home? Failing to check that a lawyer is on the Magellan Homeloans list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?
How does my firm apply to be on the Magellan Homeloans Conveyancing Panel? How can my firm be reinstated onto the Magellan Homeloans Conveyancing Panel?Find an Approved Solicitor on the Magellan Homeloans Conveyancing Panel
Q and A’s regarding the Magellan Homeloans Solicitor Panel
My financial adviser has informed me that I have to pay Magellan Homeloans fees should I instruct my family lawyer. How efficient are the Magellan Homeloans conveyancing panel solicitors? I'm happy to use any solicitor in the country TBH as long as they're good and reasonably priced. Are there any Magellan Homeloans conveyancers you'd recommend?
Magellan Homeloans’s conveyancing panel is pretty large so it would be advisable to check with the firms you are getting quotes from that they are on the panel. You can search by postcode on the search tool on this site to find solicitors that Magellan Homeloans will allow to act for them.
I am buying a new build flat and my lawyer is informing me that she is duty bound to reveal incentives from the developer as her practice is on the Magellan Homeloans conveyancing panel. The Estate Agents are hassling me to sign contracts and I would rather not prolong matters. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Magellan Homeloans approved panel is to comply with the CML Handbook requirements (last updated for this lender on Magellan Homeloans). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do I need to pop into the offices of the Magellan Homeloans conveyancing panel solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Bristol
so that I can pop in to their offices if required.
Most conveyancing panel lawyers for Magellan Homeloans undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
My solicitors in Birmingham have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with Magellan Homeloans. Is it case that being on the Magellan Homeloans conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements 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 Magellan Homeloans Conveyancing Panel Terms. It might be worth you contacting Magellan Homeloans directly.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Magellan Homeloans have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Magellan Homeloans your lawyer must to check the Magellan Homeloans conveyancing instructions contained in the Part of CML Handbook for Magellan Homeloans . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Magellan Homeloans where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
My existing mortgage is with Magellan Homeloans. My grandfather has just retired and wants to pay off the mortgage left on the property. After Magellan Homeloans is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Magellan Homeloans conveyancing panel? I do not intend to live at the property once the Magellan Homeloans mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Magellan Homeloans panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with Magellan Homeloans?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Magellan Homeloans conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Magellan Homeloans and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
Other Topics
Transfer of Equity for Magellan HomeloansPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors