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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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FAQs for the Masthaven Bank Conveyancing Panel
I am hoping to receive a mortgage with Masthaven Bank. I hope to employ the services of a Licensed Conveyancer. Does the Masthaven Bank Solicitor panel allow for conveyancers regulated by the CLC
Masthaven Bank’s conveyancing panel is, like many other lenders represented by the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Please assist. My lawyer is not to blame but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Masthaven Bank was date stamped random date and we have agreed a date for me to move into the property on 10 days inc Day of week eg. Mon. My solicitor has advised that as she is on the Masthaven Bank conveyancing panel she needs to redo the searches as they are now out of date.
One of the many conditions to being on the Masthaven Bank approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Masthaven Bank)which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Masthaven Bank.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Masthaven Bank conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
We're in London, FTBs purchasing with a mortgage (lender is Masthaven Bank , but our solicitor is on the Masthaven Bank conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Masthaven Bank conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
I previously instructed online conveyancers located in Bristol who are on the Masthaven Bank solicitor panel. They have just invoiced me a separate fee of £150 for dealing with the Masthaven Bank mortgage. Is this an additional conveyancing fee set by Masthaven Bank?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Masthaven Bank but by your lawyers. Some firms on the Masthaven Bank will charge an ‘acting for lender’ fee and others do not.
After much negotiation I have agreed a price on a house. My financial adviser recommended their conveyancers I paid an upfront payment of 175. 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.
I am selling my flat. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Masthaven Bank are being problematic. The solicitor who is on the Masthaven Bank conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Masthaven Bank are requiring a building regulation certificate. Why do Masthaven Bank have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Masthaven Bank have referred the matter to their valuer. The reason why Masthaven Bank 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.