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approved by theMortgageLender
Ready to buy a new home? Failing to check that a lawyer is on the theMortgageLender list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the The Mortgage Lender Limited Conveyancing Panel? How can my firm be reinstated onto the The Mortgage Lender Limited Conveyancing Panel?Find an Approved Solicitor on the The Mortgage Lender Limited Conveyancing Panel
The Mortgage Lender Conveyancing Panel Sample Enquires to our Call Center
For what reasons could a firm of solicitors be removed from the The Mortgage Lender approved conveyancing panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been excluded from a lender panel. The top reasons in order are :
- Low volume 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 Lender
My fiance and I are refinancing our apartment with The Mortgage Lender. We have a son approaching twenty who lives with us. The solicitor on the The Mortgage Lender conveyancing panel requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the The Mortgage Lender conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to The Mortgage Lender .This is solely used to protect the The Mortgage Lender if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of The Mortgage Lender had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am purchasing a flat and require a conveyancing solicitor in Leeds who is on the The Mortgage Lender conveyancing. Could you point me in the right direction as regards a firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for The Mortgage Lender . We don’t recommend any particular firm.
I am mortgaging my apartment does my lawyer have to be on the The Mortgage Lender Solicitor panel?
In theory, you could use a solicitor that is not on The Mortgage Lender conveyancing panel, but The Mortgage Lender would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Is there a list of The Mortgage Lender panel solicitors on the Building Society Association’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.
The Mortgage Lender 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 Lender or your broker and complete any relevant paperwork. The Mortgage Lender will tell you what documents they want. The Mortgage Lender 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 Lender 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.
My offer on house has been accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with The Mortgage Lender?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the The Mortgage Lender conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with The Mortgage Lender and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
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Transfer of Equity for The Mortgage LenderPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors