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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?Is my firm on the Monmouthshire Building Society Conveyancing Panel? 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?
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Monmouthshire Building Society Solicitor Panel Example Support Desk Enquires
I appointed a firm of solicitors to conduct the legal paperwork on my purchase three weeks ago having applied for a mortgage with Monmouthshire Building Society. The solicitors reassured me that they are on Monmouthshire Building Society conveyancing panel and provided me their panel number. Monmouthshire Building Society then ,via my broker advised that their panel number was dormant and would need to be reactivated. What do I do from here? Do I instruct a different law firm currently on the approved panel for Monmouthshire Building Society?
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 Monmouthshire Building Society conveyancing panel You may wish to enlist the help of your broker to check with the Monmouthshire Building Society as to the time frame to get your lawyer reinstated on the panel once again.
Our lawyer has discovered a problem with the lease for the apartment we are buying. The seller’s lawyers have put forward title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer says that as he is on the Monmouthshire Building Society conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or Monmouthshire Building Society?
Just because you have a mortgage offer from Monmouthshire Building Society does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Monmouthshire Building Society are the client. The appropriate lender requirements have to be complied with by the Monmouthshire Building Society conveyancing panel who has to balance acting for you and Monmouthshire Building Society
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Monmouthshire Building Society conveyancing panel. My lawyer has said that they are on the Monmouthshire Building Society 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 Monmouthshire Building Society 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 Monmouthshire Building Society solicitor panel.
My aunt passed away six months ago and as sole heir and executor was left the property. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Monmouthshire Building Society , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Monmouthshire Building Society will insist on your using a conveyancer on the Monmouthshire 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 Monmouthshire 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 Monmouthshire Building Society mortgage is registered as a charge at the Land Registry.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have telephoned Monmouthshire Building Society on numerous occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Monmouthshire Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Monmouthshire Building Society panel she or he must comply with the CML Handbook requirements for Monmouthshire Building Society. Unless your lawyer obtains specific confirmation in writing that Monmouthshire Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Monmouthshire Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
Intending to buy a flat with a mortgage with Monmouthshire Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Monmouthshire Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Monmouthshire Building Society conveyancing panel
My offer on house has been accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What should be my next step? At what point should I appy for the mortgage with Monmouthshire 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 Monmouthshire 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 Monmouthshire Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.