Q and A’s regarding the Beverley Building Society Solicitor Panel
from members of the public
My mortgage broker has says he needs my lawyer’ panel reference for the Beverley Building Society conveyancing panel. Can you suggest how I discover this. I have e-mailed my local Beverley Building Society branch but they cant find it on their system.
Have you tried speaking to your lawyer about this?. They should have a central record lender panel numbers including the Beverley Building Society panel reference.
My conveyancer has spotted a discrepancy between the information in Beverley Building Society’s valuation report and what is in the conveyancing documents. My lawyer has advised that as he is on the Beverley Building Society conveyancing panel he needs to ensure that the lender is happy with this discrepancy and is content go ahead. Is my solicitor’s course or action legitimate?
A precondition to being on the Beverley Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Beverley 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.
Do all the firms listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Beverley Building Society solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
The solicitors that just started acting on my purchase in Brighton has without warning shut down. They were on acting for me because I needed a firm on the Beverley 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 immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will 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 Beverley 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 solicitors should be in a position to assist
Are all solicitors on the Beverley Building Society conveyancing panel regulated by the SRA?
As solicitors, in order to be on the Beverley Building Society conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
We expect to receive a DIP from Beverley Building Society this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Beverley Building Society recommend a solicitor on the Beverley Building Society conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Beverley Building Society conveyancing panel. The solicitor represents both you and the Beverley Building Society through the process.
Beverley 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 Beverley Building Society or your broker and complete any relevant paperwork. Beverley Building Society will tell you what documents they want. Beverley 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. Beverley 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.