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Mansfield Building Society Conveyancing Panel : Questions and Answers
My lawyer has never been on on the Mansfield Building Society Solicitor Panel. Can I still continue with my family solicitor even though they are excluded from the Mansfield Building Society list of approved lawyers?
You will need to have a conveyancer complete the legal work required when you take out a Mansfield Building Society mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Mansfield Building Society conveyancing panel additional costs will be incurred as separate legal representation will be required by Mansfield Building Society. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
My wife and I changing mortgage lender for our maisonette with Mansfield Building Society. We have a son 19 who lives with us. The solicitor on the Mansfield Building Society conveyancing panel requested us to identify any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Mansfield Building Society conveyancing panel as he never had to sign this form when we bought 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Mansfield Building Society conveyancing panel solicitor is doing the right thing 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 Mansfield Building Society .This is solely used to protect the Mansfield Building Society 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 Mansfield Building Society 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.
I have been looking for online conveyancing estimates. Can I be assured that all the firms that are listed on your site are on the Mansfield Building Society conveyancing panel?
The law firms on our directory have assured us via an online form that they are on the Mansfield Building Society panel and agreed to advise us to take down their listing in the event of removal off of the Mansfield Building Society panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific firm being on the Mansfield Building Society conveyancing panel is incorrect.
The firm that I recently instructed on my purchase in Manchester has suddenly closed. I only went with them because I had to have a solicitor on the Mansfield Building Society conveyancing panel and my preferred lawyer was not. I paid them £200 on account. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they advise the vendors 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 Mansfield 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
Is it the case that all conveyancing lawyers on the Mansfield Building Society conveyancing panel work on a no sale no fee basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
My wife and I have arranged a further advance on our mortgage from Mansfield Building Society as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Mansfield Building Society conveyancing panel to deal with the legals?
Mansfield Building Society would not normally instruct a member of their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Mansfield Building Society panel
I was told four weeks ago that my mortgage has been agreed
to by Mansfield Building Society. Is it usual for Mansfield Building Society to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Mansfield Building Society to deal with your lawyers application to be on the Mansfield Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.