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approved by Mansfield Building Society
Ready to buy a new home? Failing to check that a lawyer is on the Mansfield Building Society 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 Mansfield Building Society Conveyancing Panel? How can my firm be reinstated onto the Mansfield Building Society Conveyancing Panel?Find an Approved Solicitor on the Mansfield Building Society Conveyancing Panel
Frequently asked questions relating to the Mansfield Building Society Conveyancing Panel
My partner and I are novices when it comes to buying a property. Within the 48 hours our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Mansfield Building Society have this afternoon contacted us to inform me that there is now an issue as our conveyancer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyers should contact Mansfield Building Society and see if they can apply for membership of the Mansfield Building Society conveyancing panel, but if that is not viable Mansfield Building Society will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the Mansfield Building Society conveyancing panel as you are at liberty to use your preferred lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
I do hope you can help me. My lawyer is assuring me that she is duty-bound to conduct a Local Authority search as the firm are on the Mansfield Building Society approved lawyer panel. Is my lawyer correct?
You have limited options available to you. Given that you are taking out a loan with Mansfield Building Society your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Mansfield Building Society’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Mansfield Building Society. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I have been Googling for online conveyancing estimates. Can I be sure that all the firms that are listed on your directory are on the Mansfield Building Society conveyancing panel?
The solicitor and licensed conveyancing practices 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 lender or a member of the public that the data about a specific firm being on the Mansfield Building Society conveyancing panel is not accurate.
We're in Birmingham, First timers buying with a mortgage (lender is Mansfield Building Society , but our lawyer is on the Mansfield Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Mansfield Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Are all solicitors on the Mansfield Building Society conveyancing panel regulated by the SRA?
As a firm of solicitors, in order to be on the Mansfield 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).
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called Mansfield Building Society on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Mansfield Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Mansfield Building Society. Unless your lawyer obtains specific confirmation in writing that Mansfield Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Mansfield Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
After much negotiation I have agreed a price on an apartment. My financial adviser recommended their conveyancers I paid an upfront payment of 225. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Mansfield 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 Mansfield 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.