Find an Approved Solicitor on the Magellan Homeloans
Common questions asked concerning the Magellan Homeloans Solicitor Panel
My financial adviser has informed me that I have to pay Magellan Homeloans fees if I use my own solicitor. How good are the Magellan Homeloans conveyancing panel solicitors? I'm happy to use any solicitor in the country TBH as long as they're good and not exorbitantly priced. Are there any Magellan Homeloans conveyancers you'd recommend?
Magellan Homeloans’s conveyancing panel is pretty large so it would be advisable to check with the firms you are getting quotes from that they are on the panel. You can search by postcode on the search tool on this site to find solicitors that Magellan Homeloans will allow to act for them.
We are getting closer to an exchange and my mum and dad 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 Magellan Homeloans. I am advised that, being on the Magellan Homeloans conveyancing panel and acting on their behalf he must inform Magellan Homeloans if the balance of the mortgage advance is coming from anyone other than me. I disclosed to the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Magellan Homeloans 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 Magellan Homeloans if you agree, failing which, your lawyer must cease to continue acting.
Whilst your website is a good idea there are many lawyers listed near London on the Magellan Homeloans conveyancing panel. Can you recommend a specific firm on the conveyancing panel for Magellan Homeloans ?
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..
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.
When it comes to mortgage companies such as Magellan Homeloans do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
is it true that all solicitor firms on the Magellan Homeloans conveyancing panel overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Magellan Homeloans 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).
How can we tell if a solicitor on the Magellan Homeloans panel is any good?
obtaining recommendations is a sensible start. 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 advise that you speak with the solicitor handling your conveyancing
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