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approved by The Mtg Business
Ready to buy a new home? Failing to check that a lawyer is on the The Mtg Business 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 The Mortgage Business Conveyancing Panel? How can my firm be reinstated onto the The Mortgage Business Conveyancing Panel?Find an Approved Solicitor on the The Mortgage Business Conveyancing Panel
Frequently asked questions relating to the The Mortgage Business Solicitor Panel
For what reasons could a firm of solicitors be removed from the The Mortgage Business solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been removed 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 The Mortgage Business
I am purchasing a newly built duplex and my solicitor is telling me that she is duty bound to reveal incentives from the developer as her practice is on the The Mortgage Business conveyancing panel. I am on a tight deadline to exchange contracts and I dont want to prolong deal. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the The Mortgage Business approved panel is to comply with the CML Handbook requirements (last updated for this lender on The Mortgage Business). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
How do I search for a local solicitor on the The Mortgage Business conveyancing panel? I have a car and am prepared to travel up to 20 kilometers to meet the solicitor.
You can use the find a conveyancing panel tool on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the The Mortgage Business solicitor panel.
I was due to complete on my flat yesterday. My solicitor is on the The Mortgage Business conveyancing panel but has changed address in the past couple of months and had not advised The Mortgage Business of their new address. The Mortgage Business has locked down the release of mortgage 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 Business branch or your mortgage broker to see if they can help.
I have paid off my mortgage with The Mortgage Business. I assume I don't need a solicitor on the The Mortgage Business panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your The Mortgage Business mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the The Mortgage Business mortgage from the register. The Mortgage Business,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the The Mortgage Business has sent the Land Registry the discharge electronically, and
the The Mortgage Business has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your The Mortgage Business mortgage has been paid off.
I currently have a mortgage with with The Mortgage Business. Conveyancing was finalised 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform The Mortgage Business?
Your original mortgage agreement with The Mortgage Business will provide that you need their approval prior to renting your property as this is likely to be a breach of The Mortgage Business’s mortgage conditions. In many cases banks or building societies 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 Business directly. It should not be necessary to do this via a The Mortgage Business conveyancing panel firm.
On the whole I have been dissatisfied with the level or service received from my lawyer. Is there a The Mortgage Business conveyancing panel complaints department or do I complain directly to the law firm?
There is little point in complaining directly to The Mortgage Business. Every solicitor firm and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
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Transfer of Equity for The Mortgage BusinessPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors