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M&S Bank Conveyancing Panel : Questions and Answers
I have been advised by my broker that I have to pay M&S Bank fees should I instruct my family lawyer. How efficient are the M&S Bank conveyancing panel solicitors? I'm happy to use any solicitor in the country TBH as long as they're good and reasonably priced. Would you recommend a specific law firm on the M&S Bank panel?
M&S Bank’s conveyancing panel is pretty large so your best bet is just to check with the firms you are getting quotes from whether they are on it. You can search by postcode on the search tool on this site to find solicitors that M&S Bank will allow to act for them.
My partner and I changing mortgage lender for our maisonette with M&S Bank. We have a son approaching twenty who lives with us. The solicitor on the M&S Bank conveyancing panel requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this form unique to the M&S Bank conveyancing panel as he never had to sign this form when we purchased 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to M&S Bank .This is solely used to protect the M&S Bank if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of M&S Bank had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Your search tool is useful but there are many lawyers listed near Coventry on the M&S Bank conveyancing panel. Can you recommend a specific firm on the conveyancing panel for M&S Bank ?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
My grandfather passed away last year and as sole heir and executor was left the house. The house had a small mortgage left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to M&S Bank , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then M&S Bank will insist on your using a conveyancer on the M&S Bank conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your M&S Bank conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the M&S Bank mortgage is registered as a charge at the Land Registry.
When it comes to mortgage companies such as M&S Bank 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 true that all solicitors on the M&S Bank conveyancing panel overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the M&S Bank conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I was told three weeks ago that my mortgage has been agreed
to by M&S Bank. Is it usual for M&S Bank to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for M&S Bank to deal with your lawyers application to be on the M&S Bank conveyancing panel. There's no guarantee that your solicitors will be accepted.