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Ready to buy a new home? Failing to check that a lawyer is on the ModaMortgages 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 ModaMortgages Conveyancing Panel? How can my firm be reinstated onto the ModaMortgages Conveyancing Panel?Find an Approved Solicitor on the ModaMortgages Conveyancing Panel
ModaMortgages Solicitor Panel Recently Asked Questions
Am I correct in assuming that the fact that my solicitor is not isted on the ModaMortgages Conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for ModaMortgages.
Please assist. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from ModaMortgages was dated random date and we have agreed a date for me to move into the property on 6. My solicitor says that as she is on the ModaMortgages conveyancing panel she needs to reorder the searches as they are no longer valid.
One of the many conditions to being on the ModaMortgages approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on ModaMortgages)which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to ModaMortgages.
I need to find a ModaMortgages panel solicitor in Inverness. Can you assist?
Unfortunately it’s not apparent why you need a ModaMortgages panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to ModaMortgages to find out which solicitors in ModaMortgages are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
My uncle passed away six months ago and as sole heir and executor was left the house. The house had a small mortgage remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to ModaMortgages , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then ModaMortgages will insist on your using a conveyancer on the ModaMortgages 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 ModaMortgages 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 ModaMortgages mortgage is registered as a charge at the Land Registry.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the ModaMortgages conveyancing panel?
A selection of banks and building societies now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
Do most lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the ModaMortgages conveyancing panel requirements are different to ModaMortgages’s conveyancing panel criteria.
I recently had an offer accepted on an apartment. My mortgage broker pressured me to appoint their lawyers I paid an upfront payment of 175. Soon after the conveyancers contacted me sheepishly admitting that they were not on the ModaMortgages conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the ModaMortgages panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
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