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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?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
Common questions asked concerning the The Mortgage Business Solicitor Panel
Can you please explain the reason why all UK lawyers are not on the The Mortgage Business Solicitor 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 are limiting their conveyancing panel to a manageable size. The The Mortgage Business lawyer panel is not the most difficult to join
I am buying a newly built duplex and my solicitor is informing me that she has to disclose incentives from the builder as her firm is on the The Mortgage Business conveyancing panel. I am nearing the developer’s deadline to sign contracts and I would rather not prolong deal. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. 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). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do all the firms listed on your search have online case tracking as I was under the impression that this was a precondition of being on the The Mortgage Business solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
The lawyers that I recently instructed on my purchase in Manchester has suddenly shut down. They were on acting for me because I needed a lawyer on the The Mortgage Business conveyancing panel and my previous lawyer was not. I gave my credit card details for them to take £175 for searches. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the The Mortgage Business conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist
Can you point me to a directory of The Mortgage Business panel solicitors on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
We have had an offer accepted on a apartment I spoke to a solicitor previously used by my uncle and he recommended using a property lawyers approved by The Mortgage Business. The estate agent recommended two local firms so I asked The Mortgage Business if the 2 suggested solicitors are approved, which they are not. The Mortgage Business suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of The Mortgage Business 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of The Mortgage Business to suggest a law firm in your location. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the The Mortgage Business conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto The Mortgage Business conveyancing panel as it may only take about 2-3 weeks. As long as they meet The Mortgage Business’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
I have instructed a lawyer having checked that they are on the The Mortgage Business conveyancing panel. Does my lawyer arrange the survey of the property? Or Having digested plenty of house buying,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the The Mortgage Business conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
The Mortgage Business will need an independent valuation of the property. Your lawyer will not arrange this. Usually The Mortgage Business will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with The Mortgage Business you could contact your them to see if they have a list of approved surveyors.