FAQs : The Marsden Building Society Conveyancing Panel
from members of the public
My financial adviser has informed me that I have to pay Marsden Building Society fees should I instruct my family lawyer. How good are the Marsden Building Society conveyancing panel solicitors? I'm happy to use any solicitor in the country TBH as long as they're good and reasonably priced. Are there any Marsden Building Society conveyancers you'd recommend?
Marsden Building Society’s conveyancing panel is pretty large so your best bet is just to check with the firms you are getting quotes from that they are on the panel. You can search by postcode on the search tool on this site to find solicitors that Marsden Building Society will allow to act for them.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Marsden Building Society will not agree to this. Why was Marsden Building Society even consulted?
Your lawyer being on the Marsden Building Society conveyancing panel is duty bound to inform Marsden Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Marsden Building Society then they would have to discontinue acting for you and Marsden Building Society.
Do lenders provide you with an approved list of solicitors? How do you know who is on the Marsden Building Society conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the Marsden Building Society conveyancing panel as opposed to being supplied with a list from Marsden Building Society directly.
What happens if my lawyer’s firm is removed from the Marsden Building Society Solicitor panel before completion?
The first thing to point out is that, 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 for a fee.
is it true that all solicitor firms on the Marsden Building Society conveyancing panel overseen by the SRA?
As a firm of solicitors, in order to be on the Marsden Building Society conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I have had an offer accepted on a flat I spoke to a solicitor previously used by my dad and he recommended retaining a property lawyers approved by Marsden Building Society. The estate agent recommended two local firms so I asked Marsden Building Society if the 2 suggested solicitors are approved, which they are not. Marsden 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 Marsden 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.
Enquire of Marsden 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 Marsden 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 Marsden Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Marsden 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.
My existing mortgage is with Marsden Building Society. My uncle has just retired and wants to pay off my mortgage. After Marsden Building Society is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Marsden Building Society conveyancing panel? I do not intend to live at the property once the Marsden Building Society mortgage is discharged.
will need a solicitor but they need not be on the Marsden Building Society conveyancing 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.