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Ready to buy a new home? Failing to check that a lawyer is on the moloFinanceBTL 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 Molo Finance Buy to Let Mortgages Conveyancing Panel? How can my firm be reinstated onto the Molo Finance Buy to Let Mortgages Conveyancing Panel?Find an Approved Solicitor on the Molo Finance Buy to Let Mortgages Conveyancing Panel
FAQs : The Molo Finance Buy to Let Conveyancing Panel
Is the fact that my solicitor is not isted on the Molo Finance Buy to Let Solicitor panel that there is a problem with the quality of her conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Molo Finance Buy to Let.
My conveyancer has discovered a discrepancy when comparing the information in Molo Finance Buy to Let’s valuation report and what is in the title deeds. My solicitor informs me that as he is on the Molo Finance Buy to Let conveyancing panel he is obliged to check that the lender is OK with this discrepancy and is content go ahead. Is my lawyer’s approach legitimate?
A precondition to being on the Molo Finance Buy to Let approved panel is to comply with the CML Handbook requirements (last updated for this lender on Molo Finance Buy to Let) 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 both parties.
Your search tool is useful but there are many lawyers listed near Coventry on the Molo Finance Buy to Let conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Molo Finance Buy to Let approved panel?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
My lawyers in Birmingham have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with Molo Finance Buy to Let. Is it case that being on the Molo Finance Buy to Let conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Molo Finance Buy to Let Conveyancing Panel Terms. It might be worth you contacting Molo Finance Buy to Let directly.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Molo Finance Buy to Let conveyancing panel?
A selection of banks and building societies now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
I have paid off my mortgage with Molo Finance Buy to Let. I assume I don't need a solicitor on the Molo Finance Buy to Let panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Molo Finance Buy to Let 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 Molo Finance Buy to Let mortgage from the register. Molo Finance Buy to Let,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 Molo Finance Buy to Let has sent the Land Registry the discharge electronically, and
the Molo Finance Buy to Let has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Molo Finance Buy to Let mortgage has been paid off.
Next month my fiance and I are buying a garden flat in Hendon. Conveyancing solicitors in Hendon are preferred to begiven the go-ahead. My mothersuggested that we make sure that the solicitor in Hendon is on the Molo Finance Buy to Let approved list of lawyers. Is this really necessary?
It is not that case that all Hendon conveyancing practices are on the Molo Finance Buy to Let conveyancing panel. 7 people a month use our search tool to find a Hendon conveyancing firm on the on the Molo Finance Buy to Let panel.