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approved by GE Money
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.
Find an Approved Solicitor on the GE Money Home Lending Ltd Conveyancing Panel
GE Money Solicitor Panel Example Support Desk Enquires
We are purchasing a 1 bedroom apartment in Leeds with a mortgage from GE Money. We like our solicitor but GE Money says he's not on their "panel". We have to appoint one of the GE Money panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the GE Money conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for GE Money
Our conveyancing solicitor has requested from me ID documents saying that this forms part of his obligations as a conveyancer on the GE Money Solicitor panel. This is news to me - can I refuse?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with GE Money your lawyer also has to check ID documents to satisfy GE Money
I have been searching for competitive conveyancing fees. Can I be sure that all the law firms that are identified on your website are on the GE Money conveyancing panel?
The law firms on our directory have assured us via an online form that they are on the GE Money panel and agreed to advise us to take down their listing in the event of removal off of the GE Money panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the GE Money conveyancing panel is incorrect.
We're in Wales, FTBs 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
Are all Conveyancing Quality Solicitors on the GE Money conveyancing panel?
Some major banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
Can I be sure that the solicitor on the GE Money 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 advocate that you speak with the lawyer handling your conveyancing
After shopping around on the internet I have found a solicitor having checked that they are on the GE Money conveyancing panel. Does my lawyer arrange the survey of the property?
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I've digested plenty of mortgage guides,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the GE Money conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
GE Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually GE Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with GE Money you could contact your them to see if they have a list of approved surveyors.