FAQs : The Melton Mowbray Building Society Conveyancing Panel from members of the public
My fiance and I are purchasing a 1 bedroom flat in Newcastle with a mortgage from Melton Mowbray Building Society. We would like to retain our lawyer but Melton Mowbray Building Society says she’s not on their "panel". It seems we have little choice but to instruct one of the Melton Mowbray Building Society panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Melton Mowbray Building Society use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Melton Mowbray Building Society conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Melton Mowbray Building Society
I am due to complete my purchase next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in has capacity as lawyer for Melton Mowbray Building Society. What does the insurance need to cover?
Any lawyer on the Melton Mowbray Building Society conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Melton Mowbray Building Society’s Part 2 requirements of the CML Handbook (last updated on Melton Mowbray Building Society). Being on the Melton Mowbray Building Society conveyancing panel your lawyer is expect to follow these instructions.
I am searching for online conveyancing estimates. Can I be sure that all the firms that are identified on your site are on the Melton Mowbray Building Society conveyancing panel?
The law firms listed on our site have advised us that they are on the Melton Mowbray Building Society panel and agreed to advise us to take down their listing in the event of removal off of the Melton Mowbray Building Society 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 Melton Mowbray Building Society conveyancing panel is incorrect.
My conveyancers in Birmingham have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Melton Mowbray Building Society. Is it case that being on the Melton Mowbray Building Society conveyancing panel they need to have retained the file for a number of years?
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 Melton Mowbray Building Society Conveyancing Panel Terms. It might be worth you contacting Melton Mowbray Building Society directly.
Do conveyancing solicitors on the Melton Mowbray Building Society conveyancing panel work on a no move no charge basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
I previously instructed online conveyancers located in Manchester who are on the Melton Mowbray Building Society solicitor panel. They are now charging me a separate fee of £150 for the legal aspects of the Melton Mowbray Building Society mortgage. Is this an additional conveyancing fee set by Melton Mowbray Building Society?
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 Melton Mowbray Building Society but by your lawyers. Some firms on the Melton Mowbray Building Society will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
We have had an offer accepted on a flat I spoke to a conveyancer recommended by my brother and he advised retaining 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.
Ask Melton Mowbray Building Society to suggest a law firm in your location. Most banks have lawyers on their panel throughout the UK. 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.