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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.
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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
Monmouthshire Building Society Conveyancing Panel : Questions and Answers
Is the fact that my solicitor is not identified on the Monmouthshire Building Society Conveyancing panel that there is a problem with the standard of the firm’s work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Monmouthshire Building Society.
My lawyer has uncovered a difference when comparing the information in Monmouthshire Building Society’s valuation report and what is revealed within the title deeds. My solicitor says that as he is on the Monmouthshire Building Society conveyancing panel he is duty bound to check that the bank is happy with this discrepancy and is content go ahead. Is my solicitor’s stance appropriate?
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 you.
I see that you have a post code search directory listing solicitors on the Monmouthshire Building Society conveyancing panel. Do firms pay you a referral fee if I instruct them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Monmouthshire Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
The firm that I appointed last week on my purchase in Brighton has suddenly shut down. I chose them because I had to have a lawyer on the Monmouthshire Building Society conveyancing panel and my previous lawyer was not. I paid them £200 on account. What are my options?
Assuming that you have an Estate Agent in the equation then let them know straight away 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 Monmouthshire Building Society 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 should be in a position to help
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to proceed? I plan to obtain a mortgage with Monmouthshire Building Society. Is it possible to avoid using solicitors to save on the costs? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Monmouthshire Building Society involved you will need to appoint a solicitor on the Monmouthshire Building Society conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Monmouthshire Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Monmouthshire Building Society conveyancing panel.
We expect to receive a DIP from Monmouthshire Building Society this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Monmouthshire Building Society recommend a solicitor on the Monmouthshire Building Society conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Monmouthshire Building Society conveyancing panel. The solicitor represents both you and the Monmouthshire Building Society through the process.
I have today made my last payment due on mortgage with Monmouthshire Building Society. I assume I don't need a solicitor on the Monmouthshire Building Society panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Monmouthshire Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Monmouthshire Building Society mortgage from the register. Monmouthshire Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Monmouthshire Building Society has sent the Land Registry the discharge electronically, and
the Monmouthshire Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Monmouthshire Building Society mortgage has been paid off.