Find a Law Firm
approved by moloFinanceBTL

Ready to buy a new home? Failing to check that a lawyer is on the moloFinanceBTL list of approved solicitors can put your transaction at risk of delay or failure.

Find an Approved Solicitor on the Molo Finance Buy to Let Mortgages Conveyancing Panel

FAQs for the Molo Finance Buy to Let Conveyancing Panel

I appointed a solicitor to work on my house purchase three weeks ago having applied for a mortgage with Molo Finance Buy to Let. The solicitors confirmed to me that they are on Molo Finance Buy to Let conveyancing panel and advised me their panel number. Molo Finance Buy to Let then told me that their panel number was dormant and would need to be reactivated. What happens next? Do I instruct a different law firm listed on the conveyancing panel for Molo Finance Buy to Let?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Molo Finance Buy to Let conveyancing panel You may wish to enlist the help of your broker to check with the Molo Finance Buy to Let as to the time frame to get your lawyer reinstated on the panel once again.
We are getting closer to an exchange and my mum and dad having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Molo Finance Buy to Let. Apparently, being on the Molo Finance Buy to Let conveyancing panel and acting on their behalf he must inform Molo Finance Buy to Let if the balance of the mortgage advance is not just from me. I advised 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 Molo Finance Buy to Let 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 Molo Finance Buy to Let if you agree, failing which, your lawyer must cease to continue acting.
I note that you have a post code search directory identifying firms on the Molo Finance Buy to Let conveyancing panel. Do firms pay you a commission if I retain them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Molo Finance Buy to Let conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I was due to complete on my flat last Friday. My lawyer’s firm is on the Molo Finance Buy to Let solicitors panel but has moved offices 8 weeks ago and had not informed Molo Finance Buy to Let of their new address. Molo Finance Buy to Let is now refusing to release my funds as the information from the solicitors isn't correct.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Molo Finance Buy to Let branch or your mortgage broker to see if they can assist.
When it comes to mortgage companies such as Molo Finance Buy to Let do lawyers have to be pay a fee to be on the list of approved solicitors?
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 Molo Finance Buy to Let conveyancing panel overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Molo Finance Buy to Let conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
Is it common for Molo Finance Buy to Let to withdraw a mortgage offer and what would be the reasoning?
Banks and Building Societies such as Molo Finance Buy to Let can withdraw their mortgage offer although this is unusual. should Molo Finance Buy to Let withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a number of examples:
  • Molo Finance Buy to Let may amend or withdraw an offer if the Molo Finance Buy to Let conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
  • Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
  • Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
  • Where the sale is not at arms length for value to unconnected persons
  • If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances