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approved by Monmouthshire BS
Ready to buy a new home? Failing to check that a lawyer is on the Monmouthshire BS list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Monmouthshire Building Society Conveyancing Panel? How can my firm be reinstated onto the Monmouthshire Building Society Conveyancing Panel?Find an Approved Solicitor on the Monmouthshire Building Society Conveyancing Panel
Examples of recent questions relating to the Monmouthshire Building Society Solicitor Panel
I am progressing with the sale of my maisonette and the EA has just texted me to warn that the purchasers are swapping conveyancer. The excuse is that Monmouthshire Building Society will only deal with solicitors on their approved list. On what basis would a major lender only work with specific law firms?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Lenders point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
I am purchasing a newly constructed duplex and my lawyer is telling me that she is duty bound to reveal incentives from the developer as her practice is on the Monmouthshire Building Society conveyancing panel. The Estate Agents are hassling me to sign contracts and I dont want to prolong matters. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Monmouthshire Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Monmouthshire 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 am planning to acquire a property and need a conveyancing solicitor in who is on the Monmouthshire Building Society approved. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Monmouthshire Building Society . We don’t recommend any particular firm.
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.
Two weeks ago we had a mortgage agreed in principle with Monmouthshire Building Society. Solicitors have been appointed? How long does it take for Monmouthshire Building Society to send the offer to our conveyancer
Some lenders take longer than others. Have Monmouthshire Building Society completed the valuation? Have you advised Monmouthshire Building Society as your lawyers details and checked that your lawyer is on the Monmouthshire Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
I am buying a property where the roof has a solar panel. Monmouthshire Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As 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. Requirements for Scotland are due in the near future.
I recently had an offer accepted on a house. My financial adviser pressured me to appoint their lawyers I paid an upfront payment of 200. Soon after the conveyancers contacted me to say that they were not on the Monmouthshire Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Monmouthshire Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.