FAQs for the Melton Mowbray Building Society Solicitor Panel from members of the public
On what basis could a law firm be removed from the Melton Mowbray Building Society solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been removed from a lender panel. The top reasons in order are :
- Low volume of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Melton Mowbray Building Society
I am buying a brand new duplex and my lawyer is advising me that she has to reveal incentives from the builder as her firm is on the Melton Mowbray Building Society conveyancing panel. I am on a tight deadline to sign contracts and I have no desire to prolong deal. Can I insist on an exchange regardless of what my lawyer says about being on the Melton Mowbray Building Society panel?
You should not exchange unless you have advised to do so by your lawyer. 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). 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 require the services of a Melton Mowbray Building Society panel solicitor in Belfast. Can you assist?
It is not clear why you need a Melton Mowbray Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Melton Mowbray Building Society to find out which solicitors in Melton Mowbray Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
My grandfather passed away last year and as sole heir and executor was left the house. The house had a relatively small loan 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 allowed?
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.
I have a mortgage with Melton Mowbray Building Society. Conveyancing has been completed months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Melton Mowbray Building Society?
Your original mortgage agreement with Melton Mowbray Building Society will provide that you need their approval before letting out your property as this is likely to be a breach of Melton Mowbray Building Society’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Melton Mowbray Building Society directly. You need not do this via a Melton Mowbray Building Society conveyancing panel solicitor.
Melton Mowbray Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Melton Mowbray Building Society or your broker and complete any relevant paperwork. Melton Mowbray Building Society will tell you what documents they want. Melton Mowbray Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Melton Mowbray Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What do I do now? At what point should I appy for the mortgage with Melton Mowbray Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Melton Mowbray Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Melton Mowbray Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
