Manchester Building Society Conveyancing Panel Sample Enquires to our Call Center
from members of the public
For what reasons could a firm of solicitors be excluded from the Manchester Building Society solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been removed from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Manchester Building Society
My solicitor has discovered a difference when comparing the assumptions in Manchester Building Society’s valuation survey and what is revealed within the conveyancing documents. My solicitor says that as he is on the Manchester Building Society conveyancing panel he is obliged to ensure that the bank is happy 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 both parties.
I note that you have a search directory listing firms on the Manchester Building Society conveyancing panel. Do firms pay you a commission if I appoint them for my own 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.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Manchester Building Society conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Manchester Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Is it the case that all solicitors on the Manchester Building Society conveyancing panel regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Manchester Building Society conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I previously instructed online solicitors located in Bristol who are on the Manchester Building Society solicitor panel. They have just invoiced me a separate fee of £150 for the legal aspects of the Manchester Building Society mortgage. Is this an additional conveyancing fee set by Manchester Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Manchester Building Society but by your lawyers. Some firms on the Manchester Building Society will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
We are getting a further advance on our mortgage from Manchester Building Society as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Manchester Building Society conveyancing panel to deal with the paperwork?
Manchester Building Society do not ordinarily appoint a member of their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Manchester Building Society list