Find an Approved Solicitor on the The Mortgage Business
Examples of recent questions relating to the The Mortgage Business Conveyancing Panel
I am selling my apartment and the estate agent has just telephoned to say that the purchasers are switching conveyancer. I am told that this is due to the fact that The Mortgage Business will only engage with solicitors on their conveyancing panel. Why would a big named lender only deal with specific solicitors?
Banks have always had panels of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
Our god-son is about to exchange on a newly built flat with a mortgage from The Mortgage Business. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the The Mortgage Business conveyancing panel as a standard part of the process, and to the surveyor when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the The Mortgage Business conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am purchasing a property and require a conveyancing solicitor in Leeds who is on the The Mortgage Business conveyancing. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for The Mortgage Business . We don’t recommend any particular firm.
I am selling my house. Does my solicitor have to be on the The Mortgage Business conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the The Mortgage Business conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Do conveyancing lawyers on the The Mortgage Business conveyancing panel work on a no move no charge basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
Do most banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the The Mortgage Business conveyancing panel requirements are different to The Mortgage Business’s conveyancing panel requirements.
My husband and I are taking a long lease of a terraced house in Hendon. Conveyancing solicitors in Hendon will soon beinstructed. My brokerrecommended that we check that the conveyancing practitioner in Hendon is on the The Mortgage Business solicitors panel. Aren't all lawyers on the The Mortgage Business panel?
It is not that case that all Hendon conveyancing solicitors are on the The Mortgage Business conveyancing panel. 7 people a month use our search tool to search for a Hendon conveyancing solicitor
on the on the The Mortgage Business solicitors pane.