Common questions asked concerning the Market Harborough Building Society Solicitor Panel from members of the public
My lawyer is not listed on the Market Harborough Building Society Solicitor Panel. Can I still continue with my family solicitor notwithstanding that they are excluded from the Market Harborough Building Society approved list?
You have a number of options available to you here:
- Carry on with your preferred lawyers but Market Harborough Building Society will need to instruct a lawyer on the Market Harborough Building Society conveyancing panel. This will result in additional cost and potential delay.
- Get a new solicitor to act in the purchase, obviously checking they are on the Market Harborough Building Society conveyancing panel.
- Urge your lawyer to apply to join the Market Harborough Building Society lender panel
Please help. My solicitor is informing me me that he has to apply for a Local Authority search stemming from the fact that the firm are on the Market Harborough Building Society approved lawyer panel. The searches cost a lot of money. Can this be avoided?
You have limited options available to you. Given that you are taking out a loan with Market Harborough Building Society your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Market Harborough Building Society’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Market Harborough Building Society. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I need to find a Market Harborough Building Society panel solicitor in Inverness. Can you assist?
It is not clear why you need a Market Harborough Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Market Harborough Building Society to find out which solicitors in Market Harborough Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
I am trying to get my former partner removed the mortgage deeds. Can Market Harborough Building Society really tell me which solicitor I can or can not instruct?
You can use any solicitor you like but Market Harborough Building Society then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Market Harborough Building Society solicitors panel
I am about to exchange contracts on a purchase with a mortgage from Market Harborough Building Society. The report from my solicitor mentions that Market Harborough Building Society could withdraw their offer before completion. Is this right?
Lenders such as Market Harborough Building Society can revoke their mortgage offer although this rarely happens. If Market Harborough Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a number of examples:
- Where information comes to Market Harborough Building Society ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- Market Harborough Building Society may amend or withdraw an offer if the Market Harborough Building Society conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- If the borrower informs Market Harborough Building Society of a change in the loan amount agreed
- Where the Lender’s right to possession is fettered in some way
- If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
For 5 years I had a mortgage with Market Harborough Building Society. My grandfather retired last week and wants to pay off the mortgage left on the property. After Market Harborough Building Society is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Market Harborough Building Society conveyancing panel? I do not intend to live at the property once the Market Harborough Building Society mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Market Harborough Building Society panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.
I have a mortgage with Market Harborough Building Society. Conveyancing has been completed some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Market Harborough Building Society?
Market Harborough Building Society must be informed of your intention before letting out your property as this is likely to be a breach of Market Harborough Building Society’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Market Harborough Building Society directly. You need not do this via a Market Harborough Building Society conveyancing panel lawyer.