Common questions asked concerning the M&S Bank Solicitor Panel from members of the public
We are buying a 2 bedroom flat in Leeds with a mortgage from M&S Bank. We have a lawyer but M&S Bank says he's not on their "panel". We have to appoint one of the M&S Bank panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the M&S Bank conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for M&S Bank
Our solicitor has discovered a legal deficiency with the lease for the property we are buying. The other side have suggested title insurance as a solution. We are happy with insurance and will pay for it. Our solicitor has advised that as he is on the M&S Bank conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is M&S Bank?
Just because you have a mortgage offer from M&S Bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and M&S Bank are the client. These conveyancing instructions must be adhered to by the M&S Bank conveyancing panel who has to balance acting for you and M&S Bank
Is it necessary during the course of the conveyancing process to attend the offices of the M&S Bank conveyancing panel solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Newcastle
so that I can attend their offices if necessary.
Whereas this was necessary ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Newcastle
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I was supposed to complete on my flat yesterday. My solicitor is on the M&S Bank conveyancing panel but has changed address in the past couple of months and had not advised M&S Bank of their new address. M&S Bank has locked down the release of mortgage funds as the information from the solicitors isn't correct.
This is a rare situation indeed. The majority of 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 M&S Bank branch or your mortgage broker to see if they can assist.
My brother and I have agreed a price on a flat I spoke to a conveyancer recommended by my mum and he suggested using a property lawyers approved by M&S Bank. The estate agent recommended two local firms so I asked M&S Bank if the 2 suggested solicitors are approved, which they are not. M&S Bank pointed out that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of M&S Bank 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask M&S Bank for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the M&S Bank conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto M&S Bank conveyancing panel as it may only take about 2-3 weeks. As long as they meet M&S Bank’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
Completion of my purchase has taken place with a loan from M&S Bank. Conveyancing was a necessary evil but I would like to complain about M&S Bank. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the M&S Bank branches or the Customer Care Department at M&S Bank head office. Ordinarily complaints to M&S Bank are resolved effectively and efficiently. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service who will take matters further.
After shopping around on the internet I have found a solicitor having checked that they are on the M&S Bank conveyancing panel. Does my lawyer arrange the survey of the property?
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I've read lots of mortgage guides,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the M&S Bank conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
M&S Bank will need an independent valuation of the property. Your lawyer will not arrange this. Usually M&S Bank will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with M&S Bank you could contact your them to see if they have a list of approved surveyors.