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approved by Mortgage Agency Services
Ready to buy a new home? Failing to check that a lawyer is on the Mortgage Agency Services 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 Mortgage Agency Services Conveyancing Panel? How can my firm be reinstated onto the Mortgage Agency Services Conveyancing Panel?Find an Approved Solicitor on the Mortgage Agency Services Conveyancing Panel
Q and A’s regarding the Mortgage Agency Services Conveyancing Panel
Am I correct in assuming that the fact that my conveyancer is not on the Mortgage Agency Services Conveyancing panel that there is a problem with the standard of her 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 Mortgage Agency Services.
Expecting to complete my purchase next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for Mortgage Agency Services. What does the insurance need to cover?
Any lawyer on the Mortgage Agency Services conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Mortgage Agency Services’s Part 2 requirements of the CML Handbook (last updated on Mortgage Agency Services). Being on the Mortgage Agency Services conveyancing panel your lawyer is expect to follow these instructions.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Mortgage Agency Services conveyancing panel. My lawyer has said that they are on the Mortgage Agency Services 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 Mortgage Agency Services 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 Mortgage Agency Services solicitor panel.
I am considering refinancing my property does my lawyer need to be on the Mortgage Agency Services Conveyancing panel?
There is nothing to stop you using your solicitor but Mortgage Agency Services will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
When it comes to mortgage companies such as Mortgage Agency Services 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.
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to move forward? I hope to get a mortgage with Mortgage Agency Services. Is there anyway to cut out the solicitors to save on the costs? 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 Mortgage Agency Services involved you will need to appoint a solicitor on the Mortgage Agency Services 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 Mortgage Agency Services. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Mortgage Agency Services conveyancing panel.
My ex -wife’s name is on the Mortgage Agency Services mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Mortgage Agency Services mortgage in order to sell?
As regards the Mortgage Agency Services mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Mortgage Agency Services in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.