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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.
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FAQs : The Magellan Homeloans Solicitor Panel
My IFA has says he needs my solicitor’s panel reference for the Magellan Homeloans conveyancing panel. What is the best way to obtain this. I have e-mailed my local Magellan Homeloans office but they have not responded to me.
the sensible thing to do is ask for this information from your solicitor. They should have a central record lender panel numbers including the Magellan Homeloans panel reference.
My conveyancer has requested from me identification documents stating that this forms part of his obligations as a solicitor on the Magellan Homeloans Solicitor panel. Can this be correct?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that Magellan Homeloans also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Magellan Homeloans CML Handbook requirements last updated on Magellan Homeloans
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Magellan Homeloans conveyancing panel. My lawyer has said that they are on the Magellan Homeloans approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Magellan Homeloans conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Magellan Homeloans solicitor panel.
I am buying a right to buy flat and getting a mortgage with Magellan Homeloans. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Magellan Homeloans conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Magellan Homeloans conveyancing panel in your location.
I had instructed online conveyancers located in Birmingham who are on the Magellan Homeloans solicitor panel. They have just invoiced me a separate fee of £175 for the legal aspects of the Magellan Homeloans mortgage. Is this an additional conveyancing fee specified by Magellan Homeloans?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Magellan Homeloans but by your lawyers. Some firms on the Magellan Homeloans will charge an ‘acting for lender’ fee and others do not.
My fiance and I are at the point of looking at apartments and am about to put in an offer. Should I already have a conveyancer appointed at this stage? I I am planning to take a home loan with Magellan Homeloans
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Magellan Homeloans , ask your prospective lawyers check they are on the Magellan Homeloans conveyancing panel otherwise they can't do the mortgage legal work.
Intending to buy a house with a mortgage with Magellan Homeloans. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Magellan Homeloans conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Magellan Homeloans conveyancing panel
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