Find an Approved Solicitor on the GE Money Home Lending Ltd
FAQs : The GE Money Conveyancing Panel
How easy is it to change a solicitor as I need to find one who is on the GE Money conveyancing panel. Is it practical to instruct different lawyers?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
My wife and I changing mortgage lender for our apartment 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 any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the GE Money conveyancing panel as he did not need to sign this form when we purchased 3 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 Middlesbrough 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 do not recommend specific firms 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..
The firm that I appointed last week on my house acquisition in Newcastle has without warning shut down. I chose them because I needed a firm on the GE Money conveyancing panel and my previous lawyer was not. I gave them a cheque for £150 in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the GE Money 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 lawyers may be able to assist
Is it the case that all solicitors on the GE Money conveyancing panel overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the GE Money conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
The for formalities of my purchase has taken place with a mortgage from GE Money. Conveyancing was satisfactory but I feel I should register my dissatisfaction about GE Money. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the GE Money branches or the Customer Care Team at GE Money head office. We understand that complaints to GE Money are sorted out effectively and efficiently. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service
who will take matters further.
I am due to exchange contracts on my house. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, GE Money are being problematic. The solicitor who is on the GE Money conveyancing panel is recommending indemnity insurance as a solution but GE Money are requiring a building regulation certificate. Why do GE Money have a conveyancing panel of they don’t accept advice from them?
It is probably the case that GE Money have referred the matter to their valuer. The reason why GE Money 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.