Common questions asked concerning the Mansfield Building Society Conveyancing Panel from members of the public
I have just been informed by my mortgage adviser that my the law firm I have appointed is not on the Mansfield Building Society Solicitor panel. What can I do to be sure that this is correct?
The best course of action for you to take is to contact your lawyer directly. You lawyer should advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for Mansfield Building Society.
Expecting to complete my purchase next Tuesday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as he says that he has to check this in has capacity as lawyer for Mansfield Building Society. What risks do Mansfield Building Society expect the insurance to cover?
Any lawyer on the Mansfield Building Society conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Mansfield Building Society’s Part 2 requirements of the CML Handbook (last updated on Mansfield Building Society). Being on the Mansfield Building Society conveyancing panel your lawyer is expect to follow these requirements.
Do I have to attend the offices of the Mansfield Building Society conveyancing panel solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Manchester
so that I can pop in to their offices if necessary.
As opposed to 12 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 Manchester
.
I am considering applying for a Mansfield Building Society mortgage for purchase of a new build (under development) with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Mansfield Building Society?
There is nothing to stop you using your solicitor but Mansfield Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Are all solicitor practices on the Mansfield Building Society conveyancing panel regulated by the SRA?
As solicitors, in order to be on the Mansfield Building Society conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. 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 was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to move forward? I hope to get a mortgage with Mansfield Building Society. Is it possible to avoid using solicitors to save on the costs? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
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.
After much negotiation I have agreed a price on an apartment. My mortgage broker recommended their conveyancers I paid an upfront payment of 225. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Mansfield Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Mansfield Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
