Common questions asked concerning the Masthaven Bank Conveyancing Panel
from members of the public
The lawyer I had intended to instruct on a purchase said she will levy higher legal fees if my mortgage is with Masthaven Bank due to their unusual legal requirements. Am I likely to be frustrated using Masthaven Bank? Any comments will be appreciated
Masthaven Bank 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 Masthaven Bank conveyancing panel. If they are not, this does add further risk of delay as Masthaven Bank will appoint their own solicitors to look after their interest.
Please help. My lawyer is assuring me that he is legally obliged to order a Local Authority search stemming from the fact that the firm are on the Masthaven Bank approved lawyer panel. Do I not have a choice here?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with Masthaven Bank your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Masthaven Bank’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Masthaven Bank. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I understood that this was a condition of being on the Masthaven Bank conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I was expecting to move into my dream home last Friday. My solicitor is on the Masthaven Bank conveyancing panel but has changed address in the past couple of months and had not informed Masthaven Bank of their new address. Masthaven Bank is now refusing to release my funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. The majority of 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.
Can I register a complaint to Masthaven Bank about the lawyers being on the Masthaven Bank conveyancing panel?
There is little point in complaining directly to Masthaven Bank. Every solicitor firm and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
I recently had an offer accepted on a house. My financial adviser suggested a solicitor I paid an upfront payment of 150. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Masthaven Bank conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Masthaven Bank panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My ex -wife’s name is on the Masthaven Bank mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Masthaven Bank mortgage in order to sell?
In terms of the Masthaven Bank mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Masthaven Bank in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.