Frequently asked questions relating to the Market Harborough Building Society Conveyancing Panel from members of the public
I am getting a offer of a mortgage from Market Harborough Building Society. I intend to instruct a Licensed Conveyancer. Does the Market Harborough Building Society Solicitor panel allow for conveyancers regulated by the CLC
Market Harborough Building Society’s approved solicitor list is, like many other lenders represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My lawyer has spotted an inconsistency when comparing the information in Market Harborough Building Society’s valuation report and what is revealed within the legal papers for the property. My solicitor has advised that as he is on the Market Harborough Building Society conveyancing panel he is obliged to check that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s approach legitimate?
A precondition to being on the Market Harborough Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Market Harborough Building Society) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Market Harborough Building Society conveyancing panel. My lawyer has said that they are on the Market Harborough Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Market Harborough Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Market Harborough Building Society solicitor panel.
What happens if my lawyer’s firm is removed from the Market Harborough Building Society Solicitor panel before the completion date?
The first thing to point out is that, this is a very rare occurrence. 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 for a fee.
I am buying a property where the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Market Harborough Building Society be concerned
As your lender is Market Harborough Building Society your lawyer must to check the Market Harborough Building Society conveyancing instructions contained in the Part of CML Handbook for Market Harborough Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Market Harborough 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.
I am due to exchange contracts on my house. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Market Harborough Building Society are being pedantic. The solicitor who is on the Market Harborough Building Society conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Market Harborough Building Society are insisting on a building regulation certificate. Why do Market Harborough Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Market Harborough Building Society have referred the matter to their valuer. The reason why Market Harborough Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
Intending to buy a flat with a mortgage with Market Harborough Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Market Harborough Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Market Harborough Building Society conveyancing panel