Common questions asked concerning the M&S Bank Conveyancing Panel from members of the public
My IFA has has requested my lawyer’ panel member for the M&S Bank conveyancing panel. How do I discover this. I have called my local M&S Bank branch but they have not responded to me.
the sensible thing to do is ask for this information from your solicitor. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for M&S Bank.
My solicitor has discovered a discrepancy when comparing the surveyor’s assumptions in M&S Bank’s home valuation survey and what is revealed within the legal papers for the property. My solicitor has advised that as he is on the M&S Bank conveyancing panel he needs to check that the bank is OK with this discrepancy and is content go ahead. Is my conveyancer’s stance appropriate?
A precondition to being on the M&S Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on M&S Bank) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Are the lawyers identified as being on the M&S Bank conveyancing panel, together with their details provided by M&S Bank?
The law firm practices themselves provide us confirmation that they are on the M&S Bank conveyancing panel as opposed to being supplied with a list from M&S Bank directly.
What happens if my lawyer’s firm is removed from the M&S Bank Conveyancing panel before the completion date?
First, 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 for a fee.
We have a mortgage agreed in principle with M&S Bank. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from M&S Bank?
Some lenders take longer than others. Have M&S Bank completed the survey? Have you advised M&S Bank as your lawyers details and checked that your lawyer is on the M&S Bank conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
I have today made my last payment due on mortgage with M&S Bank. I assume I don't need a solicitor on the M&S Bank panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your M&S Bank mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the M&S Bank mortgage from the register. M&S Bank,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the M&S Bank has sent the Land Registry the discharge electronically, and
the M&S Bank has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your M&S Bank mortgage has been paid off.
My ex -wife’s name is on the M&S Bank mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the M&S Bank mortgage in order to sell?
As regards the M&S Bank mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of M&S Bank in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
