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approved by The Mtg Works
Ready to buy a new home? Failing to check that a lawyer is on the The Mtg Works 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 Works Conveyancing Panel? How does my firm apply to be on the The Mortgage Works Conveyancing Panel? How can my firm be reinstated onto the The Mortgage Works Conveyancing Panel?
Find an Approved Solicitor on the The Mortgage Works Conveyancing Panel
The Mortgage Works Solicitor Panel Example Support Desk Enquires
For what reasons could a law firm be removed from the The Mortgage Works approved conveyancing panel?
According to a recent survey report by the solicitors regulator three quarters of solicitor practices had been excluded from a lender panel. The most common 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 Works
Can you clarify something for me?. My lawyer is not to blame but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from The Mortgage Works was dated random date and we have agreed a date for me to move into the property on 6 months + 3. My lawyer has advised that as she is on the The Mortgage Works conveyancing panel she needs to redo the searches as they are no longer valid.
One of the many conditions to being on the The Mortgage Works approved panel is to comply with the CML Handbook requirements (last updated for this lender on The Mortgage Works)which states that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to The Mortgage Works.
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the The Mortgage Works conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
I was supposed to move into my flat last Friday. My lawyer’s firm is on the The Mortgage Works conveyancing panel but has changed address in the past couple of months and had not advised The Mortgage Works of their new address. The Mortgage Works is now refusing to release my funds as the information from the solicitors isn't correct.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local The Mortgage Works branch or your mortgage broker to see if they can assist.
I previously instructed online conveyancers based in London who are on the The Mortgage Works solicitor panel. They have just invoiced me a separate fee of £135 for the legal aspects of the The Mortgage Works mortgage. Is this a supplemental conveyancing fee set by The Mortgage Works?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by The Mortgage Works but by your lawyers. Some firms on the The Mortgage Works will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
I currently have a mortgage with with The Mortgage Works. Conveyancing was finalised some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform The Mortgage Works?
Your original mortgage agreement with The Mortgage Works will provide that you need their approval prior to renting your property as this is likely to be a breach of The Mortgage Works’s mortgage conditions. It may be that The Mortgage Works will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact The Mortgage Works directly. You need not do this via a The Mortgage Works conveyancing panel firm.
I am selling my apartment. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, The Mortgage Works are being a right pain. The solicitor who is on the The Mortgage Works conveyancing panel is recommending indemnity insurance as a solution but The Mortgage Works are insisting on a building regulation certificate. Why do The Mortgage Works have a conveyancing panel of they don’t accept advice from them?
It is probably the case that The Mortgage Works have referred the matter to their valuer. The reason why The Mortgage Works 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.