FAQs for the Mansfield Building Society Conveyancing Panel
from members of the public
I am expecting a mortgage offer from Mansfield Building Society. my intention is to retain the legal services of a Licensed Conveyancer. Does the Mansfield Building Society Solicitor panel include conveyancers regulated by the CLC
Mansfield Building Society’s conveyancing panel is, like many other lenders associated to the Council or Mortgage Lenders or BSA, 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 Mansfield Building Society will not agree to this. Why was Mansfield Building Society even consulted?
Your lawyer being on the Mansfield Building Society conveyancing panel is duty bound to inform Mansfield Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Mansfield Building Society then they would have to discontinue acting for you and Mansfield Building Society.
Whilst your website is a good idea there are many lawyers listed near Chelsea on the Mansfield Building Society conveyancing panel. Can you recommend a specific firm on the Mansfield Building Society approved panel?
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. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
The firm that I recently instructed on my house acquisition in Hendon has without warning closed. I chose them because I had to have a firm on the Mansfield Building Society conveyancing panel and my family lawyer was not. I gave them a cheque for £150 in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Mansfield Building Society conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help
When it comes to mortgage companies such as Mansfield Building Society do lawyers have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to move forward? I plan to obtain a mortgage with Mansfield Building Society. Is there anyway to cut out the solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Mansfield Building Society involved you will need to appoint a solicitor on the Mansfield Building Society conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Mansfield Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Mansfield Building Society conveyancing panel.
My offer on house has been accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What should be my next step? When should I get the mortgage app going with Mansfield Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Mansfield Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Mansfield Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.