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Ready to buy a new home? Failing to check that a lawyer is on the MandS 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 M&S Bank Conveyancing Panel? How can my firm be reinstated onto the M&S Bank Conveyancing Panel?Find an Approved Solicitor on the M&S Bank Conveyancing Panel
Common questions asked concerning the M&S Bank Solicitor Panel
How easy is it to change a solicitor as I need to find one who is on the M&S Bank conveyancing panel. Is it advisable to appoint a new law firm?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
My conveyancer has spotted an inconsistency between the assumptions in M&S Bank’s valuation survey and what is revealed within the legal papers for the property. My solicitor informs me that as he is on the M&S Bank conveyancing panel he needs to ensure that the lender is OK with this discrepancy and is content go ahead. Is my solicitor’s stance appropriate?
A precondition to being on the M&S Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on M&S Bank) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
How up to date is your database of lawyers on the M&S Bank conveyancing panel? Do M&S Bank send you an updated list?
The firms themselves provide us confirmation that they are on the M&S Bank conveyancing panel as opposed to being supplied with a list from M&S Bank directly.
I was scheduled to move into my flat yesterday. My lawyer’s firm is on the M&S Bank solicitors panel but has changed address in the past couple of months and had not informed M&S Bank of their new address. M&S Bank is now refusing to release my funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local M&S Bank branch or your mortgage broker to see if they can assist.
Can I be sure that the solicitor on the M&S Bank panel is any good?
obtaining recommendations is a good start. 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 solicitor handling your transaction
In what circumstances might M&S Bank amend or withdraw their mortgage offer?
Banks and Building Societies such as M&S Bank can revoke their mortgage offer although this is unusual. should M&S Bank withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are various possible reasons but here are a number of examples:
- M&S Bank may amend or withdraw an offer if the M&S Bank conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- If the borrower informs M&S Bank of a change in the loan amount agreed
- Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
- If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
- If the solicitor on the M&S Bank conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with M&S Bank ‘s instructions
M&S Bank have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up M&S Bank or your broker and complete any relevant paperwork. M&S Bank will tell you what documents they want. M&S Bank will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. M&S Bank will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
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