Beverley Building Society Solicitor Panel Sample Enquires to our Call Center from members of the public
My partner and I are first time buyers. Within the 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Beverley Building Society have this morning contacted us to advise us that there is now an issue as our solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitors should contact Beverley Building Society and see if they can apply for membership of the Beverley Building Society conveyancing panel, but if that is not viable Beverley Building Society will instruct their own solicitors to act. You don't have to instruct a firm on the Beverley Building Society conveyancing panel and you may continue to use your own solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
My partner and I are refinancing our apartment with Beverley Building Society. We have a son approaching twenty who lives with us. The solicitor on the Beverley Building Society conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the Beverley Building Society conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Beverley 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 Beverley Building Society .This is solely used to protect the Beverley 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 Beverley 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.
What tools are available to search for a local solicitor on the Beverley Building Society conveyancing panel? I have a car and am prepared to travel up to 20 kilometers to meet the solicitor.
You can use the find a conveyancing panel tool 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 Beverley Building Society solicitor panel.
Can you clarify what the consequences are if my solicitor is suspended from the Beverley Building Society Conveyancing panel in advance of the moving date as agreed at exchange of contracts?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Beverley Building Society. Conveyancing is new to me. 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 Beverley Building Society you will need to appoint a solicitor on the Beverley Building Society conveyancing panel.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called Beverley Building Society on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Beverley Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
As long as the conveyancer is on the Beverley Building Society panel she or he must comply with the CML Handbook requirements for Beverley Building Society. Unless your lawyer obtains specific confirmation in writing that Beverley Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Beverley Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
I have instructed a lawyer having made sure that they are on the Beverley Building Society conveyancing panel. Does my lawyer arrange the survey of the property?
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I've read lots of house buying,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Beverley Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Beverley Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Beverley Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Beverley Building Society you could contact your them to see if they have a list of approved surveyors.