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approved by Masthaven
Ready to buy a new home? Failing to check that a lawyer is on the Masthaven 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 Masthaven Bank Conveyancing Panel? How can my firm be reinstated onto the Masthaven Bank Conveyancing Panel?
Find an Approved Solicitor on the Masthaven Bank Conveyancing Panel
FAQs : The Masthaven Bank Conveyancing Panel
My IFA has says he needs my law firm’s panel reference for the Masthaven Bank conveyancing panel. Can you suggest how I discover this. I have contacted my local Masthaven Bank office but they have not responded to me.
Have you tried speaking to your lawyer about this?. They should have a central record lender panel numbers including the Masthaven Bank panel reference.
We are nearing an exchange and my mum and dad having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Masthaven Bank. I am advised that, being on the Masthaven Bank conveyancing panel and acting on their behalf he must inform Masthaven Bank if the balance of the mortgage advance is coming from anyone other than me. I advised the bank about my parent’s contribution when I applied for the home loan so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Masthaven Bank to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Masthaven Bank if you agree, failing which, your lawyer must cease to continue acting.
I note that you have a search directory identifying law firms on the Masthaven Bank conveyancing panel. Do firms pay you a referral fee if I retain them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Masthaven Bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Masthaven Bank conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Masthaven Bank conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
When it comes to mortgage companies such as Masthaven Bank do solicitors have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Do the majority of lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Masthaven Bank conveyancing panel requirements are different to Masthaven Bank’s conveyancing panel requirements.
I recently had an offer accepted on an apartment. My mortgage broker recommended their conveyancers I paid an upfront payment of 225. Soon after the conveyancers contacted me to say that they were not on the Masthaven Bank 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 Masthaven Bank 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.