MBS Lending Ltd Solicitor Panel Sample Enquires to our Call Center from members of the public
My lawyer has never been on on the MBS Lending Ltd Conveyancing Panel. Can I still use my preferred solicitor even though they are excluded from the MBS Lending Ltd approved list?
You will need to have a conveyancer complete the legal work required when you take out a MBS Lending Ltd mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the MBS Lending Ltd conveyancing panel additional costs will be incurred as separate legal representation will be required by MBS Lending Ltd. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
My husband and I are refinancing our flat with MBS Lending Ltd. We have a son 19 who lives with us. The solicitor on the MBS Lending Ltd conveyancing panel has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have two questions (1) Is this document specific to the MBS Lending Ltd conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to MBS Lending Ltd .This is solely used to protect the MBS Lending Ltd if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of MBS Lending Ltd had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Do banks and building societies provide you with an approved list of solicitors? How do you know who is on the MBS Lending Ltd conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the MBS Lending Ltd conveyancing panel as opposed to being supplied with a list from MBS Lending Ltd directly.
My solicitors in Leeds have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with MBS Lending Ltd. Is it case that being on the MBS Lending Ltd conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender 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 MBS Lending Ltd Conveyancing Panel Terms. It might be worth you contacting MBS Lending Ltd directly.
When it comes to lenders such as MBS Lending Ltd do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
My fiance and I are in the process of looking at houses and am about to put in an offer. Is it premature to have a solicitor in place? I I am planning to take a home loan with MBS Lending Ltd
It would be sensible to have your start your search soon rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with MBS Lending Ltd , ask your prospective lawyers check they are on the MBS Lending Ltd conveyancing panel otherwise they can't do the mortgage legal work.
My ex -wife’s name is on the MBS Lending Ltd 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 MBS Lending Ltd mortgage in order to sell?
As regards the MBS Lending Ltd 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 MBS Lending Ltd 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.