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Ready to buy a new home? Failing to check that a lawyer is on the Masthaven 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 Masthaven Bank Conveyancing Panel? How can my firm be reinstated onto the Masthaven Bank Conveyancing Panel?Find an Approved Solicitor on the Masthaven Bank Conveyancing Panel
Q and A’s regarding the Masthaven Bank Solicitor Panel
My financial adviser has has requested my solicitor’s panel member for the Masthaven Bank conveyancing panel. How do I obtain this. I have contacted my local Masthaven Bank office but they don't know it.
the sensible thing to do is ask for this information from your solicitor. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Masthaven Bank.
We are only a couple days away from an exchange and my mum and dad having sent 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 Masthaven Bank. Apparently, being on the Masthaven Bank conveyancing panel and acting on their behalf he must inform Masthaven Bank 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 mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Masthaven Bank 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 Masthaven Bank if you agree, failing which, your lawyer must cease to continue acting.
I have been looking for conveyancing quotes online. Can I be assured that all the firms that are listed on your website are on the Masthaven Bank conveyancing panel?
The law firms on our directory have advised us that they are on the Masthaven Bank panel and agreed to advise us to take down their listing in the event of removal off of the Masthaven Bank panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific firm being on the Masthaven Bank conveyancing panel is incorrect.
The solicitors that I appointed last week on my house acquisition in Manchester has without warning shut down. I only went with them because I needed a lawyer on the Masthaven Bank conveyancing panel and my preferred lawyer was not. I gave my credit card details for them to take £175 for searches. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Masthaven Bank conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist
Is there a list of Masthaven Bank panel solicitors on the CML Handbook 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.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Masthaven Bank. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Masthaven Bank you will need to appoint a solicitor on the Masthaven Bank conveyancing panel.
Planning on purchasing a flat with a mortgage with Masthaven Bank. 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 Masthaven Bank 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 Masthaven Bank conveyancing panel
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