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Ready to buy a new home? Failing to check that a lawyer is on the GE Money 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 GE Money Home Lending Ltd Conveyancing Panel? How can my firm be reinstated onto the GE Money Home Lending Ltd Conveyancing Panel?Find an Approved Solicitor on the GE Money Home Lending Ltd Conveyancing Panel
GE Money Conveyancing Panel Example Support Desk Enquires
I instructed a solicitor to conveyancing on my house purchase three weeks ago having applied for a mortgage with GE Money. The solicitors reassured me that they are on GE Money conveyancing panel and gave me their panel reference. GE Money 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 currently on the approved panel for GE Money?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the GE Money as to how long they think it will take to get the firm to get back on the panel.
My fiance and I are refinancing our flat with GE Money. We have a son approaching twenty who lives with us. The solicitor on the GE Money conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this form unique to the GE Money conveyancing panel as he never had to sign this form when we purchased 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your GE Money conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to GE Money .This is solely used to protect the GE Money if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of GE Money had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Whilst your website is a good idea there are many lawyers listed near Newcastle on the GE Money conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for GE Money ?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
We're in Wales, First time buyers buying with a mortgage (lender is GE Money , but our solicitor is on the GE Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the GE Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
For 5 years I had a mortgage with GE Money. My father has just retired and wants to pay off the mortgage left on the property. After GE Money 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 GE Money conveyancing panel? I do not intend to live at the property once the GE Money mortgage is discharged.
You
will need a solicitor but they need not be on the GE Money conveyancing 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.
The for formalities of my remortgage has taken place with a mortgage from GE Money. Conveyancing was a necessary evil but I would like to complain about GE Money. How does one go about formally complaining?
Almost all lenders have complaints procedures. Your first port of call should be one of the GE Money branches or the Customer Care Team at GE Money head office. Ordinarily complaints to GE Money are resolved very quickly. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service who will take matters further.
Planning on purchasing a flat with a mortgage with GE Money. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the GE Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the GE Money conveyancing panel
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Transfer of Equity for GE MoneyPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors