Q and A’s regarding the Masthaven Bank Solicitor Panel from members of the public
My lawyer is not listed on the Masthaven Bank Solicitor Panel. Can I still continue with my preferred solicitor notwithstanding that they are excluded from the Masthaven Bank approved list?
The most common options here are as follows:
- Complete the purchase with your preferred 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. For no fault of my lawyer but, my purchase conveyancing has been going on for months. The Local Authority Search from Masthaven Bank was issued random date and we have agreed a date for me to move into the property on Tues etc. My lawyer has advised that as she is on the Masthaven Bank conveyancing panel she needs to redo the searches as they are no longer acceptable to the lender.
One of the many conditions to being on the Masthaven Bank approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Masthaven Bank)which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Masthaven Bank.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the Masthaven Bank conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Manchester
so that I can pop in to their offices if necessary.
Most conveyancing panel lawyers for Masthaven Bank undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
The solicitors that I recently instructed on my house acquisition in Hendon has suddenly shut down. They were on acting for me because I needed a firm on the Masthaven Bank conveyancing panel and my family lawyer was not. I gave them a cheque for £150 in advance. What are my options?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Masthaven Bank conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help
We have had an offer accepted on a house I spoke to a conveyancer recommended by my uncle and he advised instructing a law firm approved by Masthaven Bank. The estate agent recommended two local firms so I asked Masthaven Bank if the 2 suggested solicitors are approved, which they are not. Masthaven Bank suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Masthaven Bank '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 Masthaven Bank to suggest a law firm in your location. 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 Masthaven Bank 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 Masthaven Bank conveyancing panel as it may only take about 2-3 weeks. As long as they meet Masthaven Bank’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.
I am selling my flat. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Masthaven Bank are being pedantic. The solicitor who is on the Masthaven Bank conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Masthaven Bank are insisting on a building regulation certificate. Why do Masthaven Bank have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Masthaven Bank have referred the matter to their valuer. The reason why Masthaven Bank 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.
Next month my fiance and I are acquiring a 1st floor apartment in Hendon. Conveyancing solicitors in Hendon are about to begiven the go-ahead. My brokeradvised that we make sure that the conveyancing practitioner in Hendon is on the Masthaven Bank list of approved conveyancing firms. Is this right?
Far from all Hendon conveyancing solicitors are on the Masthaven Bank conveyancing panel. 5 people a month use our search tool to search for a Hendon conveyancing lawyer on the on the Masthaven Bank solicitors pane.