Common questions asked concerning the Monmouthshire Building Society Conveyancing Panel
from members of the public
I would like to know the reason why all property lawyers aren't included on the Monmouthshire Building Society Solicitor panel?
Even though it may seem unfair for Monmouthshire Building Society to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern Monmouthshire Building Society are limiting their panel of approved conveyancing lawyers to a manageable size. The Monmouthshire Building Society lawyer panel is not the smallest
Our conveyancer has identified a legal deficiency with the lease for the property we are purchasing. The other side have offered title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer says that as he is on the Monmouthshire Building Society conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is Monmouthshire Building Society?
Just because you have a mortgage offer from Monmouthshire Building Society does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Monmouthshire Building Society are the client. These conveyancing instructions have to be complied with by the Monmouthshire Building Society conveyancing panel who has to balance acting for you and Monmouthshire Building Society
I require the services of a Monmouthshire Building Society panel solicitor in Stirling. Can you assist?
It is not clear why you need a Monmouthshire 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 Monmouthshire Building Society to find out which solicitors in Monmouthshire 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 lawyers in London have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Monmouthshire Building Society. Is it case that being on the Monmouthshire Building Society conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender 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 Monmouthshire Building Society Conveyancing Panel Terms. It might be worth you contacting Monmouthshire Building Society directly.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Monmouthshire Building Society be concerned
Given that you are obtaining a mortgage with Monmouthshire Building Society your lawyer must to check the Monmouthshire Building Society conveyancing instructions contained in the Part of CML Handbook for Monmouthshire Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Monmouthshire Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
We expect to receive a DIP from Monmouthshire Building Society this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Monmouthshire Building Society recommend a solicitor on the Monmouthshire Building Society conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Monmouthshire Building Society conveyancing panel. The solicitor represents both you and the Monmouthshire Building Society through the process.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Monmouthshire Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Monmouthshire Building Society you will need to appoint a solicitor on the Monmouthshire Building Society conveyancing panel.