FAQs : The MBS Lending Ltd Solicitor Panel from members of the public
I instructed a law firm to conduct the legal paperwork on my remortgage three weeks ago having applied for a mortgage with MBS Lending Ltd. The firm reassured me that they are on MBS Lending Ltd conveyancing panel and gave me their panel reference. MBS Lending Ltd then ,via my broker advised that their panel number was dormant and would need to be reactivated. What do I do from here? Do I instruct a different law firm listed on the approved panel for MBS Lending Ltd?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the MBS Lending Ltd as to how long they think it will take to get the firm to get back on the panel.
Our god-son is buying a house that has just been built with a home loan from MBS Lending Ltd. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the MBS Lending Ltd conveyancing panel as a standard part of the process, and to the surveyor when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the MBS Lending Ltd conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am looking for competitive conveyancing fees. Can I be assured that all the firms that are identified on your directory are on the MBS Lending Ltd conveyancing panel?
The law firms on our directory have advised us that they are on the MBS Lending Ltd panel and agreed to advise us to take down their listing in the event of removal off of the MBS Lending Ltd 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 MBS Lending Ltd conveyancing panel is incorrect.
I was scheduled to move into my dream home two days ago. My solicitor is on the MBS Lending Ltd solicitors panel but has changed address 8 weeks ago and had not advised MBS Lending Ltd of their new address. MBS Lending Ltd has locked down the release of mortgage 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 MBS Lending Ltd branch or your mortgage broker to see if they can assist.
I had instructed online solicitors located in London who are on the MBS Lending Ltd solicitor panel. They have just invoiced me a separate fee of £175 for the legal aspects of the MBS Lending Ltd mortgage. Is this an additional conveyancing fee set by MBS Lending Ltd?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by MBS Lending Ltd but by your lawyers. Some firms on the MBS Lending Ltd will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to proceed? I plan to obtain a mortgage with MBS Lending Ltd. Is there anyway to cut out the solicitors to save on the costs? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with MBS Lending Ltd involved you will need to appoint a solicitor on the MBS Lending Ltd conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to MBS Lending Ltd. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the MBS Lending Ltd conveyancing panel.
After much negotiation I have agreed a price 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 MBS Lending Ltd 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 MBS Lending Ltd 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.