Beverley Building Society Solicitor Panel Example Support Desk Enquires
from members of the public
My partner and I are novices when it comes to buying a property. Within the last couple of days our solicitor has forwarded the sale agreement to sign with a detailed report with a view to exchanging next week. Beverley Building Society have this morning contacted us to inform me that they have now hit a problem as our lawyer is not on their approved list of lawyers. Please explain?
If you are buying a property with the assistance 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 Quality 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 lawyers to represent them. 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 may delay matters as you are adding another lawyer into the mix.
My partner and I intend to remortgage our maisonette with Beverley Building Society. We have a son 18 who lives with us. The solicitor on the Beverley Building Society conveyancing panel has asked us to disclose any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Beverley Building Society conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong 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.
I require the services of a Beverley Building Society panel solicitor in Inverness. Can you assist?
It is not clear why you need a Beverley Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Beverley Building Society to find out which solicitors in Beverley Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
My grandfather passed away 10 months ago and as sole heir and executor was left the house. The house had a small mortgage left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Beverley Building Society , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Beverley Building Society will insist on your using a conveyancer on the Beverley Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Beverley Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Beverley Building Society mortgage is registered as a charge at the Land Registry.
Is there a list of Beverley Building Society 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 previously instructed online solicitors based in London who are on the Beverley Building Society solicitor panel. They are now charging me a separate fee of £195 for dealing with the Beverley Building Society mortgage. Is this a supplemental conveyancing fee set by Beverley Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Beverley Building Society but by your lawyers. Some firms on the Beverley Building Society will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
Intending to buy a house with a mortgage with Beverley Building Society. 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 Beverley Building Society 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 Beverley Building Society conveyancing panel