FAQs for the Melton Mowbray Building Society Solicitor Panel
from members of the public
What is the rationale as to why all property lawyers aren't included on the Melton Mowbray Building Society Conveyancing panel?
Melton Mowbray Building Society and other mortgage companies normally imposes restrictions either the type or the number of conveyancing practices on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Melton Mowbray Building Society have no responsibility for the quality of advice provided by any member of Melton Mowbray Building Society Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
can you help? My lawyer is advising me that he is legally obliged to order a Local Authority search stemming from the fact that the firm are on the Melton Mowbray Building Society conveyancing panel. The searches cost a lot of money. Can this be avoided?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with Melton Mowbray Building Society your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Melton Mowbray Building Society’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Melton Mowbray Building Society. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Are the lawyers identified as being on the Melton Mowbray Building Society conveyancing panel, together with their details provided by Melton Mowbray Building Society?
The law firm practices themselves provide us confirmation that they are on the Melton Mowbray Building Society conveyancing panel as opposed to being supplied with a list from Melton Mowbray Building Society directly.
We're in London, FTBs buying with a mortgage (lender is Melton Mowbray Building Society , but our lawyer is on the Melton Mowbray Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Melton Mowbray Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
My fiance and I are in the throws of looking at houses and am about to put in an offer. Is it best to have a conveyancer on ‘stand by’? I will be getting a home loan with Melton Mowbray Building Society
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer 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 Melton Mowbray Building Society , make sure you remember to check that your lawyer is on the Melton Mowbray Building Society conveyancing panel.
I am due to exchange contracts on my house. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Melton Mowbray Building Society are being difficult. The solicitor who is on the Melton Mowbray Building Society conveyancing panel is saying indemnity insurance will be fine but Melton Mowbray Building Society are requiring a building regulation certificate. Why do Melton Mowbray Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Melton Mowbray Building Society have referred the matter to their valuer. The reason why Melton Mowbray Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
I had an offer accepted on a property on the 5th January 2014, valuation was booked 2 days after, all came back fine. Conveyancer retained, so all that was missing was my mortgage offer. Having made daily calls to Melton Mowbray Building Society and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Melton Mowbray Building Society conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Melton Mowbray Building Society to deal with your lawyers application to be on the Melton Mowbray Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.