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approved by The Mtg Business
Ready to buy a new home? Failing to check that a lawyer is on the The Mtg Business list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?Is my firm on the The Mortgage Business Conveyancing Panel? How does my firm apply to be on the The Mortgage Business Conveyancing Panel? How can my firm be reinstated onto the The Mortgage Business Conveyancing Panel?
Find an Approved Solicitor on the The Mortgage Business Conveyancing Panel
Frequently asked questions relating to the The Mortgage Business Conveyancing Panel
On what basis would a firm of solicitors be excluded from the The Mortgage Business solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been excluded from a lender panel. The top reasons in order are :
- lack 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 The Mortgage Business
My lawyer has uncovered a discrepancy between the information in The Mortgage Business’s valuation report and what is revealed within the legal papers for the property. My solicitor informs me that as he is on the The Mortgage Business conveyancing panel he is obliged to ensure that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s course or action correct?
A precondition to being on the The Mortgage Business approved panel is to comply with the CML Handbook requirements (last updated for this lender on The Mortgage Business) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I note that you have a post code search directory identifying solicitors on the The Mortgage Business conveyancing panel. Do firms pay you a commission if I appoint them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the The Mortgage Business conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My solicitors in Birmingham have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with The Mortgage Business. Is it case that being on the The Mortgage Business 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 The Mortgage Business Conveyancing Panel Terms. It might be worth you contacting The Mortgage Business directly.
Are all Conveyancing Quality Solicitors on the The Mortgage Business conveyancing panel?
It is true that some banks and building societies now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
When it comes to lenders such as The Mortgage Business 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.
We are getting a further advance on our mortgage from The Mortgage Business as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the The Mortgage Business conveyancing panel to deal with the paperwork?
The Mortgage Business would not normally appoint a member of their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the The Mortgage Business list