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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
The Mortgage Business Solicitor Panel Example Support Desk Enquires
The solicitor my fiance and I had intended to instruct on a remortgage said he would charge more if my lender is because of their unusual legal requirements. Will I regret using The Mortgage Business? Is The Mortgage Business conveyancing so much more difficult?
The Mortgage Business conveyancing requirements for their panel are no better or no more complicated than most lenders. It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender. It is not clear if your lawyer is on the The Mortgage Business conveyancing panel. If they are not, this does add further risk of delay as The Mortgage Business will appoint their own solicitors to look after their interest.
We are only a couple days away from an exchange and my mum and dad having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender The Mortgage Business. I am advised that, being on the The Mortgage Business conveyancing panel and acting on their behalf he must inform The Mortgage Business if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the home loan so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with The Mortgage Business to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to The Mortgage Business if you agree, failing which, your lawyer must cease to continue acting.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the The Mortgage Business conveyancing panel. My lawyer has said that they are on the The Mortgage Business 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 The Mortgage Business 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 The Mortgage Business solicitor panel.
Please explain the implications if my solicitor is suspended from the The Mortgage Business Solicitor panel before completion?
First, this is a very rare occurrence. 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.
For 5 years I had a mortgage with The Mortgage Business. My uncle has just retired and wants to pay off the mortgage left on the property. After The Mortgage Business is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the The Mortgage Business conveyancing panel? I do not intend to live at the property once the The Mortgage Business mortgage is discharged.
You will need a solicitor but they need not be on the The Mortgage Business conveyancing panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. There's no capital gains tax for you as it is your main residence.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, The Mortgage Business are being difficult. The solicitor who is on the The Mortgage Business conveyancing panel is saying indemnity insurance will be fine but The Mortgage Business are insisting on a building regulation certificate. Why do The Mortgage Business have a conveyancing panel of they don’t accept advice from them?
It is probably the case that The Mortgage Business have referred the matter to their valuer. The reason why The Mortgage Business 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.
The Mortgage Business have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up The Mortgage Business or your broker and complete any relevant paperwork. The Mortgage Business will tell you what documents they want. The Mortgage Business will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. The Mortgage Business will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.