Q and A’s regarding the M&S Bank Conveyancing Panel from members of the public
How easy is it to change a solicitor as I need to find one who is on the M&S Bank conveyancing panel. How easy is it to change conveyancer?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
My partner and I intend to remortgage our maisonette with M&S Bank. We have a son 19 who lives with us. The solicitor on the M&S Bank 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, giving up any rights in the event that the flat is repossessed. I have a couple of questions (1) Is this document specific to the M&S Bank conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your M&S Bank 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 M&S Bank .This is solely used to protect the M&S Bank 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 M&S Bank 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.
Your search tool is useful but there are many lawyers listed near Middlesbrough on the M&S Bank conveyancing panel. Can you recommend a specific firm on the conveyancing panel for M&S Bank ?
We are not in the business of recommending one firm above another 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. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
Please explain the implications if my solicitor is suspended from the M&S Bank Conveyancing panel in advance of the completion date?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the M&S Bank conveyancing panel?
It is true that some lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
I am selling my apartment. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, M&S Bank are being problematic. The solicitor who is on the M&S Bank conveyancing panel is happy to accept ‘lack of building regulation’ insurance but M&S Bank are insisting on a building regulation certificate. Why do M&S Bank have a conveyancing panel of they don’t accept advice from them?
It is probably the case that M&S Bank have referred the matter to their valuer. The reason why M&S Bank may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
I was told three weeks ago that my mortgage has been agreed
to by M&S Bank. Is it usual for M&S Bank to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for M&S Bank to deal with your lawyers application to be on the M&S Bank conveyancing panel. There's no guarantee that your solicitors will be accepted.