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My fiance and I are purchasing a 1 bedroom flat in Leeds with a mortgage from Melton Mowbray Building Society. We have a solicitor but Melton Mowbray Building Society says he's not on their "panel". We have to appoint one of the Melton Mowbray Building Society panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Melton Mowbray Building Society use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Melton Mowbray Building Society conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Melton Mowbray Building Society
I do hope you can help me. My lawyer is advising me that he has to conduct a Local Authority search because the firm are on the Melton Mowbray Building Society conveyancing panel. Do I not have a choice here?
You have limited options available to you. As you are taking a mortgage with Melton Mowbray Building Society your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Melton Mowbray Building Society’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Melton Mowbray Building Society. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Do I need to attend the offices of the Melton Mowbray Building Society conveyancing panel solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Bristol
so that I can pop in to their offices if necessary.
Whereas this was necessary 15 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Bristol
.
I am selling my house. Does my solicitor have to be on the Melton Mowbray Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Melton Mowbray Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Melton Mowbray Building Society conveyancing panel requirements are different to Melton Mowbray Building Society’s conveyancing panel requirements.
I have today made my last payment due on mortgage with Melton Mowbray Building Society. I assume I don't need a solicitor on the Melton Mowbray Building Society panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Melton Mowbray Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Melton Mowbray Building Society mortgage from the register. Melton Mowbray Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Melton Mowbray Building Society has sent the Land Registry the discharge electronically, and
the Melton Mowbray Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Melton Mowbray Building Society mortgage has been paid off.
I am currently in the process of buying my council flat. I have a mortgage offer with Melton Mowbray Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Melton Mowbray Building Society you will need to appoint a solicitor on the Melton Mowbray Building Society conveyancing panel.