Common questions asked concerning the Manchester Building Society Conveyancing Panel from members of the public
My fiance and I are purchasing a 2 bedroom flat in London with a mortgage from Manchester Building Society. We have a lawyer but Manchester Building Society says he's not on their "panel". We have to appoint one of the Manchester Building Society panel firms 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?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Manchester Building Society 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 Manchester Building Society
My lawyer has identified a difference when comparing the information in Manchester Building Society’s home valuation report and what is revealed within the title deeds. My lawyer informs me that as he is on the Manchester Building Society conveyancing panel he must ensure that the bank is OK with this discrepancy and is content go ahead. Is my solicitor’s approach right?
A precondition to being on the Manchester Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Manchester Building Society) 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 you.
I note that you have a search directory identifying solicitors on the Manchester Building Society conveyancing panel. Do firms pay you a commission if I retain them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Manchester Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
We're in London, First time buyers buying with a mortgage (lender is Manchester Building Society , but our solicitor is on the Manchester Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Manchester Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Can I be sure that the solicitor on the Manchester Building Society panel is any good?
obtaining recommendations is a sensible start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor conducting your transaction
Do most lenders 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 Manchester Building Society conveyancing panel requirements are different to Manchester Building Society’s conveyancing panel criteria.
My ex -wife’s name is on the Manchester Building Society 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 Manchester Building Society mortgage in order to sell?
As regards the Manchester Building Society 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 Manchester Building Society 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.