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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.
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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
FAQs for the Magellan Homeloans Solicitor Panel
I instructed a law firm to conveyancing on my house purchase six weeks ago having applied for a mortgage with Magellan Homeloans. The solicitors assured me that they are on Magellan Homeloans conveyancing panel and advised me their panel number. Magellan Homeloans then ,via my broker advised that their panel number was dormant and would need to be reactivated. What do I do from here? Should I appoint a new solicitor listed on the approved panel for Magellan Homeloans?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Magellan Homeloans conveyancing panel You may wish to enlist the help of your broker to check with the Magellan Homeloans as to how long they think it will take to get the firm to get back on the panel.
Our lawyer has discovered a problem with the lease for the flat we are buying. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor has advised that as he is on the Magellan Homeloans conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is Magellan Homeloans?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Magellan Homeloans are the client. 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 Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Magellan Homeloans can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . 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 require the services of a Magellan Homeloans panel solicitor in Stirling. Could you help me?
Unfortunately it’s not apparent 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. After all the cost is only one £1 a month
I am purchasing a garden flat and getting a mortgage with Magellan Homeloans. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Magellan Homeloans conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Magellan Homeloans conveyancing panel in your location.
Are all Conveyancing Quality Solicitors on the Magellan Homeloans conveyancing panel?
A selection of lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
Can I be sure that the solicitor on the Magellan Homeloans panel is any good?
seeking recommendations is a sensible starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor handling your conveyancing
Hi, thinking about buying a house off my mate. Assuming we can agree a figure, what’s the best way to move forward? I plan to obtain a mortgage with Magellan Homeloans. Is it possible to avoid using solicitors to save on the costs? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Magellan Homeloans involved you will need to appoint a solicitor on the Magellan Homeloans 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 Magellan Homeloans. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Magellan Homeloans conveyancing panel.
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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