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approved by The Mtg Works

A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been excluded from a lender panel. The most common reasons in order are :

1. Low volume 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. We are not aware of the specific or common criteria for removal by The Mortgage Works

Your lawyer being on the The Mortgage Works conveyancing panel is duty bound to inform The Mortgage Works of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to The Mortgage Works then they would have to discontinue acting for you and The Mortgage Works.

Whereas this was necessary twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Manchester .

If you have an estate agent involved then let them know straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the The Mortgage Works conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help

As solicitors, in order to be on the The Mortgage Works 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).

If you have finished paying off your The Mortgage Works mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the The Mortgage Works mortgage from the register. The Mortgage Works,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage: but are not moving to another property where the The Mortgage Works has sent the Land Registry the discharge electronically, and the The Mortgage Works has instructed the Land Registry to do so The Land Registry will send you a letter confirming that your The Mortgage Works mortgage has been paid off.

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 Works you will need to appoint a solicitor on the The Mortgage Works conveyancing panel.