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approved by GE Money
Ready to buy a new home? Failing to check that a lawyer is on the GE Money 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 GE Money Home Lending Ltd Conveyancing Panel? How can my firm be reinstated onto the GE Money Home Lending Ltd Conveyancing Panel?Find an Approved Solicitor on the GE Money Home Lending Ltd Conveyancing Panel
Common questions asked concerning the GE Money Solicitor Panel
What is the rationale as to why all solicitors are not on the GE Money Solicitor panel?
Mortgage companies point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year. The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging less reputable firms off their books
My lawyer has identified a discrepancy when comparing the assumptions in GE Money’s valuation survey and what is in the conveyancing documents. My solicitor informs me that as he is on the GE Money conveyancing panel he is obliged to check that the lender is happy with this discrepancy and is content go ahead. Is my lawyer’s stance legitimate?
A precondition to being on the GE Money approved panel is to comply with the CML Handbook requirements (last updated for this lender on GE Money) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I have been searching for conveyancing quotes online. Can I be assured that all the firms that are listed on your site are on the GE Money conveyancing panel?
The law firms listed on our site have assured us via an online form that they are on the GE Money panel and agreed to advise us to take down their listing in the event of removal off of the GE Money panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the GE Money conveyancing panel is incorrect.
My grandfather passed away last year and as sole heir and executor was left the house. The house had a small mortgage remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to GE Money , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then GE Money will insist on your using a conveyancer on the GE Money conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your GE Money conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the GE Money mortgage is registered as a charge at the Land Registry.
We expect to receive a DIP from GE Money this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the GE Money recommend a solicitor on the GE Money conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the GE Money conveyancing panel. The solicitor represents both you and the GE Money through the process.
I'm spending time looking at flats and now considering a potential offer. Should I already have a conveyancer appointed at this stage? I will be getting a mortgage with GE Money
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with GE Money , make sure you remember to check that your lawyer is on the GE Money conveyancing panel.
I recently had an offer accepted on a house. My financial adviser pressured me to appoint their lawyers I paid an upfront payment of 175. Soon after the conveyancers contacted me sheepishly admitting that they were not on the GE Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the GE Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
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Transfer of Equity for GE MoneyPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors