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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
Common questions asked concerning the Masthaven Bank Conveyancing Panel
I instructed a law firm to work on my house purchase 5 weeks ago having applied for a mortgage with Masthaven Bank. The firm reassured me that they are on Masthaven Bank conveyancing panel and gave me their panel reference. Masthaven Bank then told me that their panel number was dormant and would need to be reactivated. What happens next? 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 the time frame to get your lawyer reinstated on the panel once again.
My lawyer has spotted a difference when comparing the information in Masthaven Bank’s home valuation report and what is revealed within the conveyancing documents. My lawyer informs me that as he is on the Masthaven Bank conveyancing panel he needs to check that the lender is OK with this discrepancy and is content go ahead. Is my solicitor’s course or action right?
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) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
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.
You can use the find a conveyancing panel search on this website. 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 conveyancers in Newcastle have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Masthaven Bank. Is it case that being on the Masthaven Bank conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Masthaven Bank Conveyancing Panel Terms. It might be worth you contacting Masthaven Bank directly.
Is it the case that all solicitor practices on the Masthaven Bank conveyancing panel overseen 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 SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
We expect to receive a DIP from Masthaven Bank this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Masthaven Bank recommend a solicitor on the Masthaven Bank conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Masthaven Bank conveyancing panel. The solicitor represents both you and the Masthaven Bank through the process.
I am selling my apartment. 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, Masthaven Bank are being pedantic. 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.