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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
Examples of recent questions relating to the The Mortgage Business Solicitor Panel
I would like to know the reason why all property lawyers aren't included on the The Mortgage Business Conveyancing panel?
Even though it may seem unfair for The Mortgage Business to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern The Mortgage Business have restricted their panel of approved conveyancing lawyers to a manageable size. The The Mortgage Business solicitor panel is not the most restricted
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 The Mortgage Business will not agree to this. Why was The Mortgage Business even consulted?
Your lawyer being on the The Mortgage Business conveyancing panel is duty bound to inform The Mortgage Business of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to The Mortgage Business then they would have to discontinue acting for you and The Mortgage Business.
I have been looking for competitive conveyancing fees. Can I be assured that all the practices that are listed on your directory are on the The Mortgage Business conveyancing panel?
The law firms listed on our site have assured us via an online form that they are on the The Mortgage Business panel and agreed to advise us to take down their listing in the event of removal off of the The Mortgage Business panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the The Mortgage Business conveyancing panel is incorrect.
What happens if my solicitor is suspended from the The Mortgage Business Solicitor panel before completion?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Are all Conveyancing Quality Solicitors on the The Mortgage Business conveyancing panel?
It is true that some banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
When it comes to mortgage companies 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.
I am about to exchange contracts on a purchase with a mortgage from The Mortgage Business. The report from my solicitor mentions that The Mortgage Business could withdraw their offer before completion. Is this right?
Banks and Building Societies such as The Mortgage Business can withdraw their mortgage offer although this is unusual. should The Mortgage Business withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a number of examples:
- If the borrower informs The Mortgage Business of a change in security address
- If the borrower informs The Mortgage Business of a change in the loan amount agreed
- A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
- Where the sale is not at arms length for value to unconnected persons
- Where the lender is on notice of a restriction or a right of pre-emption which is not at market value