ModaMortgages Conveyancing Panel Information

Lexsure only know of a couple of lenders that operate a distinct approved solicitors panel where the mortgage advance is over a certain threshold. You should nevertheless check directly with ModaMortgages. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with ModaMortgages

The Council of Licensed Conveyancers has entered dialogue with lenders and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as ModaMortgages as well as the CML.

You might expect ModaMortgages via their Part Two requirements to address this but the Handbook is silent on time frames. Do look at the Terms of ModaMortgages’s Conveyancing Panel Appointment that you entered into. For many lender's these Terms include a provision along the following lines: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is imperative to keep ModaMortgages updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

The majority of lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with ModaMortgages as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from ModaMortgages we suggest that you call ModaMortgages to check the position.

The best placed professionals to answer this question are your insurance brokers. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for ModaMortgages solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You should get in touch with ModaMortgages to obtain standard documents. The The Council of Mortgage Lenders Handbook has a specific question for banks to cite who to contact to obtain standard documents. ModaMortgages in their Part 2’s state: You will need to disclose your ModaMortgages solicitors panel reference.