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approved by Marsden Building Society
Ready to buy a new home? Failing to check that a lawyer is on the Marsden 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 Marsden Building Society Conveyancing Panel? How can my firm be reinstated onto the Marsden Building Society Conveyancing Panel?Find an Approved Solicitor on the Marsden Building Society Conveyancing Panel
Examples of recent questions relating to the Marsden Building Society Solicitor Panel
On what basis could a law firm be excluded from the Marsden Building Society solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been excluded from a lender panel. The top reasons in order are :
- Low volume of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Marsden Building Society
Our son-in-law is buying a house that has just been built with a home loan from Marsden Building Society. His conveyancer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Marsden Building Society conveyancing panel as a standard part of the process, and to the surveyor when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Marsden Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do all the firms listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Marsden Building Society solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
The lawyers that I recently instructed on my house acquisition in Newcastle has suddenly shut down. I only went with them because I had to have a solicitor on the Marsden Building Society conveyancing panel and my preferred lawyer was not. I paid them £200 on account. What do I do now?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will 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 Marsden 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 assist
Do conveyancing lawyers on the Marsden 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 package
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to proceed? I plan to obtain a mortgage with Marsden Building Society. Is it possible to avoid using solicitors to save on the costs? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Marsden Building Society involved you will need to appoint a solicitor on the Marsden Building Society conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Marsden Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Marsden Building Society conveyancing panel.
Marsden Building Society 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 Marsden Building Society or your broker and complete any relevant paperwork. Marsden Building Society will tell you what documents they want. Marsden Building Society 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. Marsden Building Society 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.