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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
On what basis could a law firm be removed from the Mortgage Agency Services approved conveyancing panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been removed from a lender panel. The top reasons in order are :
- Low volume of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Mortgage Agency Services
Can you help?. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Mortgage Agency Services was issued random date and we have agreed a date for me to move into the property on 6. My lawyer has advised that as she is on the Mortgage Agency Services conveyancing panel she needs to redo the searches as they are now out of date.
One of the many conditions to being on the Mortgage Agency Services approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Mortgage Agency Services)which states that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Mortgage Agency Services.
Do all the firms listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Mortgage Agency Services solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
My solicitors in London have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Mortgage Agency Services. Is it case that being on the Mortgage Agency Services conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Mortgage Agency Services Conveyancing Panel Terms. It might be worth you contacting Mortgage Agency Services directly.
I am currently in the process of buying my council flat. I have a mortgage agreed with Mortgage Agency Services. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Mortgage Agency Services you will need to appoint a solicitor on the Mortgage Agency Services conveyancing panel.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called Mortgage Agency Services on numerous occasions and was told they are content with the situation 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
As long as the conveyancer is on the Mortgage Agency Services panel she or he must comply with the CML Handbook 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.
I am due to exchange contracts on my apartment. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Mortgage Agency Services are being pedantic. The solicitor who is on the Mortgage Agency Services conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Mortgage Agency Services are insisting on a building regulation certificate. Why do Mortgage Agency Services have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Mortgage Agency Services have referred the matter to their valuer. The reason why Mortgage Agency Services may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.