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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
Examples of recent questions relating to the Magellan Homeloans Conveyancing Panel
Am I correct in assuming that the fact that my solicitor is not on the Magellan Homeloans Solicitor panel that there is a problem with the quality of her 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 Magellan Homeloans.
My lawyer has uncovered a discrepancy between the assumptions in Magellan Homeloans’s valuation report and what is in the title deeds. My solicitor informs me that as he is on the Magellan Homeloans conveyancing panel he needs to ensure that the bank is with this discrepancy and is still content to lend. Is my conveyancer’s approach correct?
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) 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.
I need to find a Magellan Homeloans panel solicitor in Belfast. Could you help me?
It is not clear why you need a Magellan Homeloans panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Magellan Homeloans to find out which solicitors in Magellan Homeloans are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
I am selling my house. Does my solicitor have to be on the Magellan Homeloans conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Magellan Homeloans conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
When it comes to mortgage companies such as Magellan Homeloans do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I am buying a property where the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Magellan Homeloans be concerned
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.
Magellan Homeloans have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Magellan Homeloans or your broker and complete any relevant paperwork. Magellan Homeloans will tell you what documents they want. Magellan Homeloans will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Magellan Homeloans will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
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Transfer of Equity for Magellan HomeloansPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors