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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?Is my firm on the Masthaven Bank Conveyancing Panel? 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?
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Frequently asked questions relating to the Masthaven Bank Solicitor Panel
I instructed a law firm to conveyancing on my remortgage six weeks ago having applied for a mortgage with Masthaven Bank. The solicitors assured me that they are on Masthaven Bank conveyancing panel and provided me their panel number. Masthaven Bank then told me that their panel number was dormant and would need to be reactivated. What do I do from here? Should I appoint a new solicitor currently on the conveyancing panel for Masthaven Bank?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Masthaven Bank conveyancing panel You may wish to enlist the help of your broker to check with the Masthaven Bank as to how long they think it will take to get the firm to get back on the panel.
I am buying a brand new apartment and my conveyancer is informing me that she has to disclose incentives from the builder as her practice is on the Masthaven Bank conveyancing panel. The Estate Agents are hassling me to exchange contracts and I have no desire to delay deal. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Masthaven Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Masthaven Bank). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
What tools are available to find a local solicitor on the Masthaven Bank conveyancing panel? I have a car and am prepared to travel up to 20 miles to meet the conveyancer.
Feel free to make use of the find a conveyancing panel search on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Masthaven Bank solicitor panel.
My grandmother passed away six months ago and as sole heir and executor was left the property. The house had a relatively small loan left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Masthaven Bank , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Masthaven Bank will insist on your using a conveyancer on the Masthaven Bank conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Masthaven Bank conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Masthaven Bank mortgage is registered as a charge at the Land Registry.
My existing mortgage is with Masthaven Bank. My father has just retired and wants to pay off the mortgage left on the property. After Masthaven Bank is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Masthaven Bank conveyancing panel? I do not intend to live at the property once the Masthaven Bank mortgage is discharged.
You will need a solicitor but they need not be on the Masthaven Bank conveyancing panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. As the property is your main residence you need not pay CGT but you should speak with your accountants in any event.
I recently had an offer accepted on a house. My financial adviser recommended their conveyancers I paid an upfront payment of 150. Soon after the conveyancers contacted me sheepishly admitting 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.
Masthaven Bank 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 Masthaven Bank or your broker and complete any relevant paperwork. Masthaven Bank will tell you what documents they want. Masthaven Bank 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. Masthaven Bank 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.