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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.
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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
Q and A’s regarding the Monmouthshire Building Society Conveyancing Panel
A conveyancer I wanted to use for conveyancing on a remortgage said she would charge more if my mortgage is with Monmouthshire Building Society because of their unusual legal requirements. Am I likely to be frustrated using Monmouthshire Building Society? Is Monmouthshire Building Society conveyancing so much more difficult?
Monmouthshire Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Monmouthshire Building Society conveyancing panel. If they are not, this does add further risk of delay as Monmouthshire Building Society will appoint their own solicitors to look after their interest.
We are nearing 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 make a notification to my lender Monmouthshire Building Society. I am advised that, being on the Monmouthshire Building Society conveyancing panel and acting on their behalf he must inform Monmouthshire Building Society if the balance of the mortgage advance is not just from me. I advised the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Monmouthshire 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 Monmouthshire Building Society if you agree, failing which, your lawyer must cease to continue acting.
How up to date is your search tool for the Monmouthshire Building Society conveyancing panel? Do Monmouthshire Building Society send you an updated list?
The law firm practices themselves provide us confirmation that they are on the Monmouthshire Building Society conveyancing panel as opposed to being supplied with a list from Monmouthshire Building Society directly.
I was supposed to complete on my flat yesterday. My lawyer’s firm is on the Monmouthshire Building Society conveyancing panel but has moved offices in the past couple of months and had not advised Monmouthshire Building Society of their new address. Monmouthshire Building Society has locked down the release of mortgage funds as the information from the solicitors isn't correct.
This is a rare situation indeed. The majority of 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 Monmouthshire Building Society branch or your mortgage broker to see if they can help.
Two weeks ago we had a mortgage agreed in principle with Monmouthshire Building Society. Solicitors have been appointed? How long does it take for Monmouthshire Building Society to send the offer to our conveyancer
There is no definitive answer here. Have Monmouthshire Building Society completed the survey? Have you advised Monmouthshire Building Society as your lawyers details and checked that your lawyer is on the Monmouthshire Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
Completion of my remortgage has taken place with a mortgage from Monmouthshire Building Society. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about Monmouthshire Building Society. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first port of call should be one of the Monmouthshire Building Society branches or the Customer Care Department at Monmouthshire Building Society head office. Ordinarily complaints to Monmouthshire Building Society are resolved effectively and efficiently. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
After much negotiation I have agreed a price on an apartment. My mortgage broker recommended their conveyancers I paid an upfront payment of 225. Soon after the conveyancers contacted me sheepishly admitting 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.