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approved by Monmouthshire BS
Ready to buy a new home? Failing to check that a lawyer is on the Monmouthshire BS 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 Monmouthshire Building Society Conveyancing Panel? How can my firm be reinstated onto the Monmouthshire Building Society Conveyancing Panel?Find an Approved Solicitor on the Monmouthshire Building Society Conveyancing Panel
Examples of recent questions relating to the Monmouthshire Building Society Conveyancing Panel
Is there a reason why all solicitors aren't included on the Monmouthshire Building Society Solicitor panel?
As unjust as it may seem for Monmouthshire Building Society to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern Monmouthshire Building Society are limiting their panel of approved conveyancing lawyers to a size that they are happy to control. The Monmouthshire Building Society solicitor panel is not the most exclusive of all lenders
My solicitor has identified an inconsistency between the assumptions in Monmouthshire Building Society’s valuation report and what is in the conveyancing documents. My lawyer has advised that as he is on the Monmouthshire Building Society conveyancing panel he must ensure that the bank is happy with this discrepancy and is content go ahead. Is my lawyer’s stance correct?
A precondition to being on the Monmouthshire Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Monmouthshire Building Society) 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.
Do I need to have a meeting at the offices of the Monmouthshire Building Society conveyancing panel solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Liverpool
so that I can pop in to their offices when needed.
As opposed to 12 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 Liverpool
.
We're in Liverpool, FTBs purchasing with a mortgage (lender is Monmouthshire Building Society , but our lawyer is on the Monmouthshire Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Monmouthshire Building Society 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
Are all solicitors on the Monmouthshire Building Society conveyancing panel regulated by the SRA?
As a firm of solicitors, in order to be on the Monmouthshire Building Society 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).
I have a mortgage with Monmouthshire Building Society. Conveyancing has been completed 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Monmouthshire Building Society?
Monmouthshire Building Society must be informed of your intention before renting your property as this is likely to be a breach of Monmouthshire Building Society’s mortgage conditions. It may be that Monmouthshire Building Society will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Monmouthshire Building Society directly. You need not do this via a Monmouthshire Building Society conveyancing panel lawyer.
After much negotiation I have agreed a price on an apartment. My mortgage broker pressured me to appoint their lawyers I paid an upfront payment of 175. Soon after the conveyancers contacted me to say that they were not on the Monmouthshire Building Society 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 Monmouthshire Building Society 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.