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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.

Find an Approved Solicitor on the GE Money Home Lending Ltd Conveyancing Panel

Q and A’s regarding the GE Money Conveyancing Panel

We are purchasing a 2 bedroom apartment in Hackney with a mortgage from GE Money. We would like to retain our lawyer 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; Can we not simply insist that GE Money use our lawyer?
Unfortunately,no. 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
We are getting closer to an exchange and my parents having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender GE Money. Apparently, being on the GE Money conveyancing panel and acting on their behalf he must inform GE Money if the balance of the mortgage advance is not just from me. I disclosed to the bank about my parent’s contribution when I applied for the home loan so is it really necessary for him to raise this?
Your lawyer is obliged to check with GE Money to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to GE Money if you agree, failing which, your lawyer must cease to continue acting.
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the GE Money conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
My house is up for sale and I have a buyer. Does my solicitor have to be on the GE Money conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the GE Money conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Is there a list of GE Money panel conveyancers on the CML Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
My wife and I have arranged a further advance on our mortgage from GE Money as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the GE Money conveyancing panel to deal with the legals?
GE Money do not ordinarily appoint firms on their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the GE Money list
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have telephoned GE Money on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the GE Money conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
As long as the conveyancer is on the GE Money panel she or he must comply with the CML Handbook requirements for GE Money. Unless your lawyer obtains specific confirmation in writing that GE Money will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask GE Money to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.