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Ready to buy a new home? Failing to check that a lawyer is on the 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 MBS Lending Ltd Conveyancing Panel? How can my firm be reinstated onto the MBS Lending Ltd Conveyancing Panel?
Find an Approved Solicitor on the MBS Lending Ltd Conveyancing Panel
FAQs for the MBS Lending Ltd Solicitor Panel
My financial adviser has informed me that I have to pay MBS Lending Ltd fees should I instruct my family lawyer. How efficient are the MBS Lending Ltd conveyancing panel solicitors? I dont care which law firm I use provided that they are good and not exorbitantly priced. Would you recommend a specific law firm on the MBS Lending Ltd panel?
MBS Lending Ltd’s conveyancing panel is substantial so it would be advisable to check with the firms you are getting quotes from that they are on the panel. You can search by postcode on the search tool on this site to find solicitors that MBS Lending Ltd will allow to act for them.
Our lawyer has uncovered a problem with the lease for the property we are buying. The seller’s lawyers have put forward defective title insurance as a solution. We are content with insurance and will pay for it. Our lawyer says that as he is on the MBS Lending Ltd conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or MBS Lending Ltd?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and MBS Lending Ltd are the client. A precondition to being on the MBS Lending Ltd approved panel is to comply with the CML Handbook requirements (last updated for this lender on MBS Lending Ltd). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that MBS Lending Ltd can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the MBS Lending Ltd conveyancing panel. My lawyer has said that they are on the MBS Lending Ltd approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the MBS Lending Ltd conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the MBS Lending Ltd solicitor panel.
I was expecting to complete on my flat last Thursday. My solicitor is on the MBS Lending Ltd solicitors panel but has changed address 8 weeks ago and had not advised MBS Lending Ltd of their new address. MBS Lending Ltd is now refusing to release my funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local MBS Lending Ltd branch or your mortgage broker to see if they can help.
Is it the case that all conveyancing lawyers on the MBS Lending Ltd conveyancing panel work on a no sale no fee basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
Are all solicitor firms on the MBS Lending Ltd conveyancing panel overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the MBS Lending Ltd 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).
Last month we had a mortgage agreed in principle with MBS Lending Ltd. Solicitors have been chosen? How long does it take for MBS Lending Ltd to send the offer to our conveyancer
There is no definitive answer here. Have MBS Lending Ltd done the survey? Have you advised MBS Lending Ltd as your lawyers details and checked that your lawyer is on the MBS Lending Ltd conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued