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approved by Magellan Homeloans
Ready to buy a new home? Failing to check that a lawyer is on the Magellan Homeloans 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 Magellan Homeloans Conveyancing Panel? How can my firm be reinstated onto the Magellan Homeloans Conveyancing Panel?Find an Approved Solicitor on the Magellan Homeloans Conveyancing Panel
Magellan Homeloans Conveyancing Panel : Questions and Answers
On what basis would a law firm be excluded from the Magellan Homeloans 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 :
- lack 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 Magellan Homeloans
My grandson is about to exchange on a newly built flat with a mortgage from Magellan Homeloans. His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Magellan Homeloans 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 Magellan Homeloans conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have been searching for conveyancing quotes online. Can I be sure that all the practices that are listed on your site are on the Magellan Homeloans conveyancing panel?
The law firms on our directory have assured us via an online form that they are on the Magellan Homeloans panel and agreed to advise us to take down their listing in the event of removal off of the Magellan Homeloans 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 Magellan Homeloans conveyancing panel is incorrect.
I would like to get my ex-husband taken off the mortgage deeds. Can Magellan Homeloans really insist on which solicitor I can or can not use?
You can use any solicitor you like but Magellan Homeloans then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Magellan Homeloans solicitors panel
We expect to receive a DIP from Magellan Homeloans this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Magellan Homeloans recommend a solicitor on the Magellan Homeloans conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Magellan Homeloans conveyancing panel. The solicitor represents both you and the Magellan Homeloans through the process.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called Magellan Homeloans on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Magellan Homeloans conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Magellan Homeloans panel she or he must comply with the CML Handbook requirements for Magellan Homeloans. Unless your lawyer obtains specific confirmation in writing that Magellan Homeloans will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Magellan Homeloans to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
Planning on purchasing a house with a mortgage with Magellan Homeloans. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Magellan Homeloans conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Magellan Homeloans conveyancing panel
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Transfer of Equity for Magellan HomeloansPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors