FAQs : The Mansfield Building Society Solicitor Panel
from members of the public
The solicitor my husband and I had intended to instruct on a purchase said she will levy higher legal fees if my mortgage is with Mansfield Building Society because of their unusual legal requirements. Am I likely to be frustrated using Mansfield Building Society? Is Mansfield Building Society conveyancing so much more difficult?
Mansfield Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Mansfield Building Society conveyancing panel. If they are not, this does add further risk of delay as Mansfield Building Society will appoint their own solicitors to look after their interest.
Our conveyancer has uncovered a defect with the lease for the flat we are buying. The other side have put forward title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer has advised that as he is on the Mansfield Building Society conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is Mansfield Building Society?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Mansfield Building Society are the client. A precondition to being on the Mansfield Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Mansfield Building Society). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Mansfield Building Society can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . 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.
Do I have to visit the offices of the Mansfield Building Society conveyancing panel solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Newcastle
so that I can pop in to their offices if necessary.
As opposed to twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Newcastle
.
We're in Birmingham, First timers buying with a mortgage (lender is Mansfield Building Society , but our lawyer is on the Mansfield Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Mansfield 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
How can we tell if a solicitor on the Mansfield Building Society panel is any good?
seeking recommendations is a sensible starting point. 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 advocate that you speak with the solicitor conducting your conveyancing
Two weeks ago we had a mortgage agreed in principle with Mansfield Building Society. Solicitors have been chosen? How long does it take for Mansfield Building Society to send the offer to our conveyancer
Some lenders take longer than others. Have Mansfield Building Society completed the valuation? Have you advised Mansfield Building Society as your lawyers details and checked that your lawyer is on the Mansfield Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Mansfield Building Society be concerned
As your lender is Mansfield Building Society your lawyer must to check the Mansfield Building Society conveyancing instructions contained in the Part of CML Handbook for Mansfield Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Mansfield Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.