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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.
Looking for information about your firm's panel status?
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
Q and A’s regarding the Marsden Building Society Conveyancing Panel
On what basis would a firm of solicitors be removed from the Marsden Building Society approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been excluded from a lender panel. The top reasons in order are :
- lack 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
Please assist. For no fault of my lawyer but, my purchase conveyancing has been going on for months. The Local Authority Search from Marsden Building Society was issued random date and we have agreed a date for me to move into the property on 6 months + 3. My lawyer has advised that as she is on the Marsden Building Society conveyancing panel she needs to reorder the searches as they are now out of date.
A precondition to being on the Marsden Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Marsden Building Society)which specifies that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Marsden Building Society.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Marsden Building Society conveyancing panel. My lawyer has said that they are on the Marsden Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Marsden Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Marsden Building Society solicitor panel.
The firm that just started acting on my purchase in Hendon has without warning shut down. I only went with them because I had to have a lawyer on the Marsden Building Society conveyancing panel and my previous lawyer was not. I gave them a cheque for £150 in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should 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 lawyers may be able to help
I am due to exchange contracts on my flat. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Marsden Building Society are being a right pain. The solicitor who is on the Marsden Building Society conveyancing panel is saying indemnity insurance will be fine but Marsden Building Society are insisting on a building regulation certificate. Why do Marsden Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Marsden Building Society have referred the matter to their valuer. The reason why Marsden Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
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.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with Marsden Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Marsden Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Marsden Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.