Melton Mowbray Building Society Conveyancing Panel Example Support Desk Enquires from members of the public
My wife and I are first time buyers. Within the 48 hours our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Melton Mowbray Building Society have this afternoon contacted us to inform me that they have now hit a problem as our conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyers should contact Melton Mowbray Building Society and see if they can apply for membership of the Melton Mowbray Building Society conveyancing panel, but if that is not viable Melton Mowbray Building Society will instruct their own lawyers to represent them. You don't have to instruct a firm on the Melton Mowbray Building Society conveyancing panel and you may continue to use your own solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
My solicitor has spotted an inconsistency between the information in Melton Mowbray Building Society’s home valuation survey and what is revealed within the title deeds. My lawyer says that as he is on the Melton Mowbray Building Society conveyancing panel he needs to ensure that the lender is with this discrepancy and is content go ahead. Is my conveyancer’s stance legitimate?
A precondition to being on the Melton Mowbray Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Melton Mowbray Building Society) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Do I have to have a meeting at the offices of the Melton Mowbray Building Society conveyancing panel solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Manchester
so that I can attend their offices when needed.
Most conveyancing panel lawyers for Melton Mowbray Building Society 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.
My uncle passed away six months ago and as sole heir and executor was left the property. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Melton Mowbray Building Society , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Melton Mowbray Building Society will insist on your using a conveyancer on the Melton Mowbray Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Melton Mowbray Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Melton Mowbray Building Society mortgage is registered as a charge at the Land Registry.
Do most banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Melton Mowbray Building Society conveyancing panel requirements are different to Melton Mowbray Building Society’s conveyancing panel requirements.
I have had an offer accepted on a house I spoke to a conveyancer previously used by my dad and he suggested using a property lawyers approved by Melton Mowbray Building Society. The estate agent recommended two local firms so I asked Melton Mowbray Building Society if the 2 suggested solicitors are approved, which they are not. Melton Mowbray Building Society pointed out that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Melton Mowbray Building Society '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 Melton Mowbray Building Society 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 Melton Mowbray Building Society 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 Melton Mowbray Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Melton Mowbray Building Society’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.
The for formalities of my purchase has taken place with a loan from Melton Mowbray Building Society. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about Melton Mowbray Building Society. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first point of contact should be one of the Melton Mowbray Building Society branches or the Customer Services Department at Melton Mowbray Building Society head office. Ordinarily complaints to Melton Mowbray Building Society are sorted out effectively and efficiently. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service who will take matters further.