FAQs : The Marsden Building Society Solicitor Panel from members of the public
The conveyancer I wanted to use for conveyancing on a remortgage said he would charge more if my mortgage is with Marsden Building Society because of their unusual legal requirements. Will I regret using Marsden Building Society? Is Marsden Building Society conveyancing so much more difficult?
Marsden Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Marsden Building Society conveyancing panel. If they are not, this does add further risk of delay as Marsden Building Society will appoint their own solicitors to look after their interest.
Our conveyancer has requested from me identification documents stating that this is part of his obligations as a solicitor on the Marsden Building Society Solicitor panel. Can this be correct?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Marsden Building Society your lawyer also has to check ID documents to satisfy Marsden Building Society
I am buying a flat and require a conveyancing solicitor in Newcastle who is on the Marsden Building Society approved. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Marsden Building Society . We don’t recommend any particular firm.
We're in Liverpool, First timers buying with a mortgage (lender is Marsden Building Society , but our solicitor is on the Marsden Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Marsden Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Marsden Building Society conveyancing panel?
Some major lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
I'm spending time viewing houses and am about to put in an offer. Should I already have a conveyancer appointed at this stage? I I am planning to take a home loan with Marsden Building Society
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Marsden Building Society , ask your prospective lawyers check they are on the Marsden Building Society conveyancing panel otherwise they can't do the mortgage legal work.
I can not work out if my mortgage offer requires a lease extension . I have telephoned Marsden Building Society on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Marsden Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Marsden Building Society. Unless your lawyer obtains specific confirmation in writing that Marsden 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 Marsden Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.