FAQs for the Barclays - Woolwich Conveyancing Panel from members of the public
I am progressing with the sale of my flat and the estate agent has just telephoned to warn that the buyers are swapping solicitor. The excuse is that Barclays - Woolwich will only engage with solicitors on their approved list. On what basis would a leading lender only engage with certain solicitors?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lenders point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
I am buying a newly constructed duplex and my conveyancer is informing me that she is duty bound to reveal incentives from the developer as her practice is on the Barclays - Woolwich conveyancing panel. I am under pressure to exchange and I dont want to delay matters. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Barclays - Woolwich approved panel is to comply with the CML Handbook requirements (last updated for this lender on Barclays - Woolwich). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am looking to buy a house and require a conveyancing solicitor in Manchester who is on the Barclays - Woolwich approved. Could you point me in the right direction as regards a solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Barclays - Woolwich . We don’t recommend any particular firm.
My conveyancers in Newcastle have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with Barclays - Woolwich. Is it case that being on the Barclays - Woolwich conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Barclays - Woolwich Conveyancing Panel Terms. It might be worth you contacting Barclays - Woolwich directly.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Barclays - Woolwich conveyancing panel?
A selection of banks and building societies now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
I am selling my house. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Barclays - Woolwich are being difficult. The solicitor who is on the Barclays - Woolwich conveyancing panel is recommending indemnity insurance as a solution but Barclays - Woolwich are insisting on a building regulation certificate. Why do Barclays - Woolwich have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Barclays - Woolwich have referred the matter to their valuer. The reason why Barclays - Woolwich may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
I had an offer accepted on a property on the 20th February 2014, valuation was booked 4 days later, all came back fine. Conveyancer instructed, so all that was missing was my mortgage offer. Having made daily calls to Barclays - Woolwich and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Barclays - Woolwich conveyancing panel. Are Barclays - Woolwich entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Barclays - Woolwich to deal with your lawyers application to be on the Barclays - Woolwich conveyancing panel. There's no guarantee that your solicitors will be accepted.