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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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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
Magellan Homeloans Conveyancing Panel Recently Asked Questions
My financial adviser has informed me that I have to pay Magellan Homeloans fees should I instruct my family lawyer. How good are the Magellan Homeloans conveyancing panel solicitors? I dont care which law firm I use provided that they are good and reasonably priced. Would you recommend a specific law firm on the Magellan Homeloans panel?
Magellan Homeloans’s conveyancing panel is substantial so your best bet is just to check with the firms you are getting quotes from whether they are on it. You can search by postcode on the search tool on this site to find solicitors that Magellan Homeloans will allow to act for them.
My son is buying a newly built flat with a mortgage from Magellan Homeloans. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Magellan Homeloans conveyancing panel as a standard part of the process, and to the surveyor when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Magellan Homeloans conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I note that you have a search directory identifying law firms on the Magellan Homeloans conveyancing panel. Do firms pay you a referral fee if I instruct them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Magellan Homeloans conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My grandfather passed away six months ago and as sole heir and executor was left the property. The house had a small mortgage left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Magellan Homeloans , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Magellan Homeloans will insist on your using a conveyancer on the Magellan Homeloans conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Magellan Homeloans conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Magellan Homeloans mortgage is registered as a charge at the Land Registry.
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to move forward? I plan to obtain a mortgage with Magellan Homeloans. Is it possible to avoid using solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Magellan Homeloans involved you will need to appoint a solicitor on the Magellan Homeloans conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Magellan Homeloans. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Magellan Homeloans conveyancing panel.
Magellan Homeloans have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Magellan Homeloans or your broker and complete any relevant paperwork. Magellan Homeloans will tell you what documents they want. Magellan Homeloans will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Magellan Homeloans will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
My offer on house has been accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What should be my next step? At what point should I appy for the mortgage with Magellan Homeloans?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Magellan Homeloans conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Magellan Homeloans and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
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