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approved by Manchester Building Society
Ready to buy a new home? Failing to check that a lawyer is on the Manchester Building Society list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?
How does my firm apply to be on the Manchester Building Society Conveyancing Panel? How can my firm be reinstated onto the Manchester Building Society Conveyancing Panel?Find an Approved Solicitor on the Manchester Building Society Conveyancing Panel
Common questions asked concerning the Manchester Building Society Conveyancing Panel
My financial adviser has asked me for my law firm’s panel reference for the Manchester Building Society conveyancing panel. How do I obtain this. I have tried my local Manchester Building Society office but they have not responded to me.
You are best placed to get this information from your conveyancing lawyer. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Manchester Building Society.
Our lawyer has identified a problem with the lease for the property we are purchasing. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer has advised that as he is on the Manchester Building Society conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or Manchester Building Society?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Manchester Building Society are the client. A precondition to being on the Manchester Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Manchester Building Society). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Manchester Building Society can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
How up to date is your database of lawyers on the Manchester Building Society conveyancing panel? Do Manchester Building Society send you an updated list?
The firms themselves provide us confirmation that they are on the Manchester Building Society conveyancing panel as opposed to being supplied with a list from Manchester Building Society directly.
The firm that I appointed last week on my house acquisition in Newcastle has without warning shut down. I only went with them because I had to have a lawyer on the Manchester Building Society conveyancing panel and my preferred lawyer was not. I paid them £200 on account. What are my options?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Manchester Building Society conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help
When it comes to mortgage companies such as Manchester Building Society do solicitors have to be pay a fee to be on the conveyancing panel?
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.
Is it the case that all solicitors on the Manchester Building Society conveyancing panel overseen by the SRA?
As a firm of solicitors, in order to be on the Manchester Building Society conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
Can I be sure that the solicitor on the Manchester Building Society panel is any good?
seeking recommendations is a sensible starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer carrying out your transaction