Find a Law Firm
approved by moloFinanceBTL
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.
Find an Approved Solicitor on the Molo Finance Buy to Let Mortgages Conveyancing Panel
Frequently asked questions relating to the Molo Finance Buy to Let Solicitor Panel
A lawyer I had intended to instruct on a remortgage said she will levy higher legal fees if my lender is due to their difficult processes! Will I regret using Molo Finance Buy to Let? Any comments will be appreciated
Molo Finance Buy to Let conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Molo Finance Buy to Let conveyancing panel. If they are not, this does add further risk of delay as Molo Finance Buy to Let will appoint their own solicitors to look after their interest.
My fiance and I changing mortgage lender for our penthouse with Molo Finance Buy to Let. We have a son approaching twenty who lives with us. The solicitor on the Molo Finance Buy to Let conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Molo Finance Buy to Let conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Molo Finance Buy to Let conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Molo Finance Buy to Let .This is solely used to protect the Molo Finance Buy to Let if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Molo Finance Buy to Let had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Are the lawyers identified as being on the Molo Finance Buy to Let conveyancing panel, together with their details provided by Molo Finance Buy to Let?
The firms themselves provide us confirmation that they are on the Molo Finance Buy to Let conveyancing panel as opposed to being supplied with a list from Molo Finance Buy to Let directly.
My aunt passed away six months ago and as sole heir and executor was left the property. The house had a relatively small loan left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Molo Finance Buy to Let , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Molo Finance Buy to Let will insist on your using a conveyancer on the Molo Finance Buy to Let 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 Molo Finance Buy to Let 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 Molo Finance Buy to Let mortgage is registered as a charge at the Land Registry.
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Molo Finance Buy to Let conveyancing panel requirements are different to Molo Finance Buy to Let’s conveyancing panel criteria.
I have a mortgage with Molo Finance Buy to Let. Conveyancing has been completed 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 BTL mortgage or inform Molo Finance Buy to Let?
Your original mortgage agreement with Molo Finance Buy to Let will provide that you need their approval prior to letting out your property as this is likely to be a breach of Molo Finance Buy to Let’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 Molo Finance Buy to Let directly. It should not be necessary to do this via a Molo Finance Buy to Let conveyancing panel firm.
We are are buying a terraced house in Hendon. Conveyancing solicitors in Hendon are preferred to beinstructed. My motherrecommended that we enquire that the conveyancing practitioner in Hendon is on the Molo Finance Buy to Let solicitors panel. Surely I don't need to do this, do I?
It is not that case that all Hendon conveyancing solicitors are on the Molo Finance Buy to Let conveyancing panel. 5 people a month use our search tool to find a Hendon conveyancing lawyer on the on the Molo Finance Buy to Let list of approved conveyancing firms.