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approved by Marsden Building Society
Ready to buy a new home? Failing to check that a lawyer is on the Marsden Building Society 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 Marsden Building Society Conveyancing Panel? How can my firm be reinstated onto the Marsden Building Society Conveyancing Panel?Find an Approved Solicitor on the Marsden Building Society Conveyancing Panel
Marsden Building Society Solicitor Panel Recently Asked Questions
My property lawyer is not on the Marsden Building Society Approved Panel. Is it possible for me to use my family solicitor notwithstanding that they are excluded from the Marsden Building Society panel of approved conveyancing solicitors?
You will need to have a conveyancer complete the legal work required when you take out a Marsden Building Society mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Marsden Building Society conveyancing panel additional costs will be incurred as separate legal representation will be required by Marsden Building Society. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
Please assist. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from Marsden Building Society was date stamped random date and we have agreed a date for me to move into the property on Tues etc. My solicitor informs me that as she is on the Marsden Building Society conveyancing panel she needs to redo the searches as they are no longer valid.
One of the many conditions to being on the Marsden Building Society approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Marsden Building Society)which states that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Marsden Building Society.
Do I need to visit the offices of the Marsden Building Society conveyancing panel solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Liverpool
so that I can attend their offices if required.
Whereas this was necessary ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Liverpool
.
The firm that I appointed last week on my house acquisition in Brighton has suddenly closed. I only went with them because I needed a lawyer on the Marsden Building Society conveyancing panel and my preferred lawyer was not. I gave them a cheque for £150 in advance. What are my options?
If you have an estate agent involved 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 Marsden 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 assist
Is it the case that all conveyancing lawyers on the Marsden Building Society conveyancing panel work on a no move no charge basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
I have today made my last payment due on mortgage with Marsden Building Society. I assume I don't need a solicitor on the Marsden Building Society panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Marsden 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 Marsden Building Society mortgage from the register. Marsden 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 Marsden Building Society has sent the Land Registry the discharge electronically, and
the Marsden Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Marsden Building Society mortgage has been paid off.
Marsden Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Marsden Building Society or your broker and complete any relevant paperwork. Marsden Building Society will tell you what documents they want. Marsden Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Marsden Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.