Find a Law Firm
approved by Magellan Homeloans
Ready to buy a new home? Failing to check that a lawyer is on the Magellan Homeloans list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?
How does my firm apply to be on the Magellan Homeloans Conveyancing Panel? How can my firm be reinstated onto the Magellan Homeloans Conveyancing Panel?Find an Approved Solicitor on the Magellan Homeloans Conveyancing Panel
Examples of recent questions relating to the Magellan Homeloans Conveyancing Panel
My fiance and I are buying a 3 bedroom apartment in Hackney with a mortgage from Magellan Homeloans. We would like to retain our lawyer but Magellan Homeloans says she’s not on their "panel". It seems we have little choice but to instruct one of the Magellan Homeloans panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Magellan Homeloans use our lawyer?
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 Magellan Homeloans 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 Magellan Homeloans
I do hope you can help me. My solicitor is assuring me that he is legally obliged to apply for a Local Authority search stemming from the fact that the firm are on the Magellan Homeloans solicitor panel. The searches cost a lot of money. Can this be avoided?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with Magellan Homeloans your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Magellan Homeloans’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Magellan Homeloans. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
What tools are available to find a local solicitor on the Magellan Homeloans conveyancing panel? I have a car and am prepared to travel up to 10 miles to meet the lawyer.
Feel free to make use of the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Magellan Homeloans solicitor panel.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Magellan Homeloans conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Magellan Homeloans 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 Magellan Homeloans panel solicitors 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.
How can we tell if a solicitor on the Magellan Homeloans panel is any good?
seeking recommendations is a good 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 suggest that you speak with the lawyer handling your conveyancing
We have a mortgage agreed in principle with Magellan Homeloans. Solicitors have been chosen? What is the average time that one could expect to receive a mortgage offer from Magellan Homeloans?
There is no definitive answer here. Have Magellan Homeloans done the survey? Have you advised Magellan Homeloans as your lawyers details and checked that your lawyer is on the Magellan Homeloans conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
Other Topics
Transfer of Equity for Magellan HomeloansPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors