Q and A’s regarding the Masthaven Bank Conveyancing Panel
from members of the public
My Solicitor is not on the Masthaven Bank Conveyancing Panel. Is it possible for me to use my preferred solicitor notwithstanding that they are excluded from the Masthaven Bank panel?
The most common options here are as follows:
- Complete the purchase with your existing lawyers but Masthaven Bank will need to instruct a lawyer on the Masthaven Bank 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 Masthaven Bank conveyancing panel.
- Convince your lawyer to do everything within their powers to join the Masthaven Bank conveyancing panel
Please assist. My lawyer is not to blame but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Masthaven Bank was date stamped random date and we have agreed a date for me to move into the property on 6 months + 3. My lawyer has advised that as she is on the Masthaven Bank conveyancing panel she needs to reorder the searches as they are no longer acceptable to the lender.
A precondition to being on the Masthaven Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Masthaven Bank)which specifies that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Masthaven Bank.
I am buying a flat and require a conveyancing solicitor in Leeds who is on the Masthaven Bank conveyancing. Can you recommend a local conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Masthaven Bank . We don’t recommend any particular firm.
I was scheduled to move into my dream home last Thursday. My solicitor is on the Masthaven Bank solicitors panel but has changed address 8 weeks ago and had not advised Masthaven Bank of their new address. Masthaven Bank is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Masthaven Bank branch or your mortgage broker to see if they can assist.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Masthaven Bank be concerned
Given that you are obtaining a mortgage with Masthaven Bank your lawyer must to check the Masthaven Bank conveyancing instructions contained in the Part of CML Handbook for Masthaven Bank . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Masthaven Bank where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
I have today made my last payment due on mortgage with Masthaven Bank. I assume I don't need a solicitor on the Masthaven Bank panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Masthaven Bank 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 Masthaven Bank mortgage from the register. Masthaven Bank,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 Masthaven Bank has sent the Land Registry the discharge electronically, and
the Masthaven Bank has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Masthaven Bank mortgage has been paid off.
I was told two weeks ago that my mortgage has been agreed
to by Masthaven Bank. Is it usual for Masthaven Bank to only issue the offer once my
solicitor is approved on their conveyancing panel?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Masthaven Bank to deal with your lawyers application to be on the Masthaven Bank conveyancing panel. There's no guarantee that your solicitors will be accepted.