Frequently asked questions relating to the Mansfield Building Society Solicitor Panel from members of the public
I am in the process of selling my flat and the EA has just e-mailed to advise that the buyers are changing their solicitor. The reason given is that Mansfield Building Society will only work with solicitors on their approved list. On what basis would a leading lender only work with specific lawyers?
Banks have always had an approved set of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
I am due to move into my new home next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor 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?
All property lawyers 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 all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Mansfield Building Society solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
I was expecting to complete on my dream home last Thursday. My solicitor is on the Mansfield Building Society conveyancing panel but has changed address 8 weeks ago and had not advised Mansfield Building Society of their new address. Mansfield Building Society has locked down the release of mortgage funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Mansfield Building Society branch or your mortgage broker to see if they can assist.
We have agreed a price on a house I spoke to a solicitor recommended by my uncle and he recommended instructing a solicitor approved by Mansfield Building Society. The estate agent recommended two local firms so I asked Mansfield Building Society if the 2 suggested solicitors are approved, which they are not. Mansfield Building Society pointed out that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Mansfield Building Society 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Mansfield Building Society for conveyancing panel firms in your area. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Mansfield Building Society conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Mansfield Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Mansfield Building Society’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Mansfield Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Mansfield Building Society you will need to appoint a solicitor on the Mansfield Building Society conveyancing panel.
Me and my partner are taking a long lease of a terraced house in Hendon. Conveyancing solicitors in Hendon will soon beappointed. My friendsuggested that we check that the property lawyer in Hendon is on the Mansfield Building Society approved list of lawyers. Aren't all lawyers on the Mansfield Building Society panel?
Not all Hendon conveyancing firms are on the Mansfield Building Society conveyancing panel. 5 people a month use our search tool to search for a Hendon conveyancing lawyer on the on the Mansfield Building Society panel.