M&S Bank Conveyancing Panel Sample Enquires to our Call Center from members of the public
I am obtaining a mortgage offer from M&S Bank. my intention is to retain the legal services of a Licensed Conveyancer. Does the M&S Bank Solicitor panel exclude Licensed Conveyancers
M&S Bank’s conveyancing panel is, like many other lenders associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company M&S Bank will not agree to this. Why was M&S Bank even consulted?
Your lawyer being on the M&S Bank conveyancing panel is duty bound to inform M&S Bank of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to M&S Bank then they would have to discontinue acting for you and M&S Bank.
What tools are available to search for a local solicitor on the M&S Bank conveyancing panel? I have a car and am prepared to travel up to 25 kilometers to meet the solicitor.
You can use the find a conveyancing panel search on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the M&S Bank solicitor panel.
My uncle passed away last year and as sole heir and executor was left the house. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to M&S Bank , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then M&S Bank will insist on your using a conveyancer on the M&S Bank 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 M&S Bank 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 M&S Bank mortgage is registered as a charge at the Land Registry.
My existing mortgage is with M&S Bank. My grandfather has just retired and wants to pay off the mortgage left on the property. After M&S Bank is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the M&S Bank conveyancing panel? I do not intend to live at the property once the M&S Bank mortgage is discharged.
You
will need a solicitor but they need not be on the M&S Bank conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called M&S Bank on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the M&S Bank conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for M&S Bank. Unless your lawyer obtains specific confirmation in writing that M&S Bank will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask M&S Bank to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
I am selling my house. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, M&S Bank are being difficult. 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 requiring 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.