Q and A’s regarding the Masthaven Bank Solicitor Panel
from members of the public
The lawyer my fiance and I had intended to instruct on a purchase said he would charge more if my lender is because of their difficult processes! Will I regret using Masthaven Bank? Is Masthaven Bank conveyancing so much more difficult?
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.
I am buying a newly built duplex and my solicitor is advising me that she has to reveal incentives from the developer as her firm is on the Masthaven Bank conveyancing panel. The Estate Agents are hassling me to exchange and I have no desire to prolong matters. Can I insist on an exchange regardless of what my lawyer says about being on the Masthaven Bank panel?
You should not exchange unless you have advised to do so by your lawyer. 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). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am Googling for conveyancing quotes online. Can I be confident that all the firms that are identified on your directory are on the Masthaven Bank conveyancing panel?
The law firms listed on our site have assured us via an online form that they are on the Masthaven Bank panel and agreed to advise us to take down their listing in the event of removal off of the Masthaven Bank panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the Masthaven Bank conveyancing panel is incorrect.
My lawyers in Birmingham have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Masthaven Bank. Is it case that being on the Masthaven Bank conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Masthaven Bank Conveyancing Panel Terms. It might be worth you contacting Masthaven Bank directly.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Masthaven Bank have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As 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.
Can I register a complaint to Masthaven Bank about the lawyers being on the Masthaven Bank conveyancing panel?
Complaining to Masthaven Bank about their conveyancing panel is unlikely to yield much of a response. 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 properly dealt with 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.
My offer was accepted on an apartment on the 17th March 2014, valuation was booked 2 days after, received a clean bill of health. Conveyancer appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to Masthaven Bank and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Masthaven Bank conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to 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.