Find an Approved Solicitor on the Monmouthshire Building Society
Monmouthshire Building Society Conveyancing Panel : Questions and Answers
I need to swap lawyers as my lawyer is not on the Monmouthshire Building Society panel of conveyancing solicitors. Is it practical to instruct different lawyers?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
My husband and I are refinancing our penthouse with Monmouthshire Building Society. We have a son approaching twenty who lives with us. The solicitor on the Monmouthshire Building Society conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this document specific to the Monmouthshire Building Society conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Monmouthshire Building Society conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Monmouthshire Building Society .This is solely used to protect the Monmouthshire Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Monmouthshire Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Are there any apps to help search for a local solicitor on the Monmouthshire Building Society conveyancing panel? I have a car and am prepared to travel up to 25 miles to meet the lawyer.
Feel free to make use of the find a conveyancing panel search on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Monmouthshire Building Society solicitor panel.
I am considering applying for a Monmouthshire Building Society mortgage for purchase of a newly converted (under development) with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Monmouthshire Building Society?
In theory, you could use a solicitor that is not on Monmouthshire Building Society conveyancing panel, but Monmouthshire Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Is there a list of Monmouthshire Building Society panel conveyancers on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
is it true that all solicitors on the Monmouthshire Building Society conveyancing panel overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Monmouthshire Building Society conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
In what circumstances might Monmouthshire Building Society amend or withdraw their mortgage offer?
Lenders such as Monmouthshire Building Society can revoke their mortgage offer although this is unusual. In the unlikely event that Monmouthshire Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are 5 examples:
Where information comes to Monmouthshire Building Society ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
If the borrower informs Monmouthshire Building Society of a change in the loan amount agreed
Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
If the solicitor on the Monmouthshire Building Society conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Monmouthshire Building Society ‘s instructions
Transfer of Equity for Monmouthshire Building Society
Please note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors