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Ready to buy a new home? Failing to check that a lawyer is on the The Mtg Business 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 The Mortgage Business Conveyancing Panel? How can my firm be reinstated onto the The Mortgage Business Conveyancing Panel?Find an Approved Solicitor on the The Mortgage Business Conveyancing Panel
FAQs for the The Mortgage Business Solicitor Panel
My lawyer has never been on on the The Mortgage Business Conveyancing Panel. Is it possible for me to retain my family solicitor even though they are not on the The Mortgage Business list of approved lawyers?
You will need to have a conveyancer complete the legal work required when you take out a The Mortgage Business mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the The Mortgage Business conveyancing panel additional costs will be incurred as separate legal representation will be required by The Mortgage Business. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
My lawyer has requested from me ID documents saying that this forms part of his legal duty as a conveyancer on the The Mortgage Business Solicitor panel. Am I being spun a yarn?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with The Mortgage Business your lawyer also has to check ID documents to satisfy The Mortgage Business
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I understood that this was a condition of being on the The Mortgage Business solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
My conveyancers in Leeds have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with The Mortgage Business. Is it case that being on the The Mortgage Business conveyancing panel they need to have retained the file for a number of years?
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 The Mortgage Business Conveyancing Panel Terms. It might be worth you contacting The Mortgage Business directly.
My fiance and I are in the process of viewing flats and am about to put in an offer. Is it premature to have a solicitor in place? I will be getting a home loan with The Mortgage Business
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with The Mortgage Business , ask your prospective lawyers check they are on the The Mortgage Business conveyancing panel otherwise they can't do the mortgage legal work.
I am currently in the process of buying my council flat. I have a mortgage agreed with The Mortgage Business. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with The Mortgage Business you will need to appoint a solicitor on the The Mortgage Business conveyancing panel.
I am due to exchange contracts on my apartment. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, The Mortgage Business are being a right pain. The solicitor who is on the The Mortgage Business conveyancing panel is saying indemnity insurance will be fine but The Mortgage Business are insisting on a building regulation certificate. Why do The Mortgage Business have a conveyancing panel of they don’t accept advice from them?
It is probably the case that The Mortgage Business have referred the matter to their valuer. The reason why The Mortgage Business 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.
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Transfer of Equity for The Mortgage BusinessPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors