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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.
Find an Approved Solicitor on the Masthaven Bank Conveyancing Panel
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On what basis would a firm of solicitors be excluded from the Masthaven Bank solicitor panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been removed from a lender panel. The most common 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 Masthaven Bank
Our nephew is about to exchange on a new build apartment with a mortgage from Masthaven Bank. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
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 Masthaven Bank conveyancing panel as a standard part of the process, and to the surveyor when requested.
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 Masthaven Bank conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do I have to attend the offices of the Masthaven Bank conveyancing panel solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Liverpool
so that I can pop in to their offices when needed.
Most conveyancing panel lawyers for Masthaven Bank undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
I am considering refinancing my property does my lawyer have to be on the Masthaven Bank Conveyancing panel?
There is nothing to stop you using your solicitor but Masthaven Bank will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
is it true that all conveyancing solicitors on the Masthaven Bank conveyancing panel regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Masthaven Bank 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).
Can I be sure that the solicitor on the Masthaven Bank panel is any good?
Getting recommendations is a sensible starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor carrying out your conveyancing
Planning on purchasing a house with a mortgage with Masthaven Bank. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Masthaven Bank conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Masthaven Bank conveyancing panel