Monmouthshire Building Society Conveyancing Panel Sample Enquires to our Call Center from members of the public
We are purchasing a 1 bedroom apartment in Hackney with a mortgage from Monmouthshire Building Society. We like our solicitor but Monmouthshire Building Society says she’s not on their "panel". It seems we have little choice but to instruct one of the Monmouthshire Building Society panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Monmouthshire 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 Monmouthshire 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 Monmouthshire Building Society
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Monmouthshire Building Society will not agree to this. Why was Monmouthshire Building Society even consulted?
Your lawyer being on the Monmouthshire Building Society conveyancing panel is duty bound to inform Monmouthshire Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Monmouthshire Building Society then they would have to discontinue acting for you and Monmouthshire Building Society.
What tools are available to search for a local solicitor on the Monmouthshire Building Society conveyancing panel? I have a car and am prepared to travel up to 20 kilometers to meet the solicitor.
You can use the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Monmouthshire Building Society solicitor panel.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Monmouthshire Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Monmouthshire Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
When it comes to lenders such as Monmouthshire Building Society do lawyers have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I am selling my house. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Monmouthshire Building Society are being difficult. The solicitor who is on the Monmouthshire Building Society conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Monmouthshire Building Society are insisting on a building regulation certificate. Why do Monmouthshire Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Monmouthshire Building Society have referred the matter to their valuer. The reason why Monmouthshire 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.
My ex -wife’s name is on the Monmouthshire Building Society mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Monmouthshire Building Society mortgage in order to sell?
In terms of the Monmouthshire Building Society mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Monmouthshire Building Society in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.