Q and A’s regarding the Market Harborough Building Society Solicitor Panel from members of the public
My husband and I are buying a 2 bedroom flat in Newcastle with a mortgage from Market Harborough Building Society. We like our lawyer but Market Harborough Building Society says she’s not on their "panel". It seems we have little choice but to instruct one of the Market Harborough Building Society panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Market Harborough Building Society use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Market Harborough Building Society conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Market Harborough Building Society
My husband and I changing mortgage lender for our maisonette with Market Harborough Building Society. We have a son 18 who lives with us. The solicitor on the Market Harborough Building Society conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this document specific to the Market Harborough Building Society conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Market Harborough Building Society .This is solely used to protect the Market Harborough Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Market Harborough Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I need to find a Market Harborough Building Society panel solicitor in Belfast. Could you help me?
Unfortunately it’s not apparent 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
Can you clarify what the consequences are if my solicitor is removed from the Market Harborough Building Society Solicitor panel prior to the moving date as agreed at exchange of contracts?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I have today made my last payment due on mortgage with Market Harborough Building Society. I assume I don't need a solicitor on the Market Harborough Building Society panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Market Harborough Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Market Harborough Building Society mortgage from the register. Market Harborough Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Market Harborough Building Society has sent the Land Registry the discharge electronically, and
the Market Harborough Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Market Harborough Building Society mortgage has been paid off.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called into my local branch Market Harborough Building Society on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Market Harborough Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 requirements for Market Harborough Building Society. Unless your lawyer obtains specific confirmation in writing that Market Harborough Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Market Harborough Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
I recently had an offer accepted on a house. My financial adviser suggested a solicitor I paid an upfront payment of 200. Soon after the conveyancers contacted me to say that they were not on the Market Harborough 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 Market Harborough 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.