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Ready to buy a new home? Failing to check that a lawyer is on the Melton Mowbray BS list of approved solicitors can put your transaction at risk of delay or failure.
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Melton Mowbray Building Society Conveyancing Panel Recently Asked Questions
My husband and I are hoping to buy a 3 bedroom apartment in London with a mortgage from Melton Mowbray Building Society. We like our solicitor but Melton Mowbray Building Society says she’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. This seems very unfair; Can we not simply insist that Melton Mowbray Building Society use our lawyer?
Unfortunately,no. 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 lawyer to apply to be on the conveyancing panel for Melton Mowbray Building Society
We are getting closer to an exchange and my parents having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Melton Mowbray Building Society. I am advised that, being on the Melton Mowbray Building Society conveyancing panel and acting on their behalf he must inform Melton Mowbray Building Society if the balance of the mortgage advance is not just from me. I informed the bank about my parent’s contribution when I applied for the home loan so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Melton Mowbray Building Society to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Melton Mowbray Building Society if you agree, failing which, your lawyer must cease to continue acting.
Do all the firms listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Melton Mowbray Building Society conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
My grandmother passed away 10 months ago and as sole heir and executor was left the house. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Melton Mowbray Building Society , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Melton Mowbray Building Society will insist on your using a conveyancer on the Melton Mowbray Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Melton Mowbray Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Melton Mowbray Building Society mortgage is registered as a charge at the Land Registry.
Completion of my remortgage has taken place with a loan from Melton Mowbray Building Society. Conveyancing was satisfactory but I feel I should register my dissatisfaction about Melton Mowbray Building Society. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the Melton Mowbray Building Society branches or the Customer Care Team at Melton Mowbray Building Society head office. Ordinarily complaints to Melton Mowbray Building Society are sorted out very quickly. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service with full details of your complaint.
Melton Mowbray Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Melton Mowbray Building Society or your broker and complete any relevant paperwork. Melton Mowbray Building Society will tell you what documents they want. Melton Mowbray Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Melton Mowbray Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
My offer on house has been accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What do I do now? At what point should I appy for the mortgage with Melton Mowbray Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Melton Mowbray Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Melton Mowbray Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.