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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.
Looking for information about your firm's panel status?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?
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FAQs : The Mortgage Agency Services Solicitor Panel
I was advised recently by my mortgage broker that my property lawyer is not on the Mortgage Agency Services Conveyancing panel. What can I do to be certain that this is indeed the case?
The first thing you need to do is to contact your conveyancer. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for Mortgage Agency Services.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Mortgage Agency Services will not agree to this. Why was Mortgage Agency Services even consulted?
Your lawyer being on the Mortgage Agency Services conveyancing panel is duty bound to inform Mortgage Agency Services of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Mortgage Agency Services then they would have to discontinue acting for you and Mortgage Agency Services.
I require the services of a Mortgage Agency Services panel solicitor in Inverness. Can you assist?
Unfortunately it’s not apparent why you need a Mortgage Agency Services panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Mortgage Agency Services to find out which solicitors in Mortgage Agency Services are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
I am selling my house. Does my solicitor have to be on the Mortgage Agency Services conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Mortgage Agency Services conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
is it true that all conveyancing solicitors on the Mortgage Agency Services conveyancing panel regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Mortgage Agency Services 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).
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called into my local branch Mortgage Agency Services on numerous occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Mortgage Agency Services conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Mortgage Agency Services. Unless your lawyer obtains specific confirmation in writing that Mortgage Agency Services will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Mortgage Agency Services to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
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?
In terms of 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.