Q and A’s regarding the Beverley Building Society Conveyancing Panel
from members of the public
Can you please explain the reason why all property lawyers are not on the Beverley Building Society Conveyancing panel?
As unjust as it may seem for Beverley Building Society to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern Beverley Building Society have restricted their panel of approved conveyancing lawyers to a manageable size. The Beverley Building Society conveyancing panel is not the most restricted
My solicitor has identified a discrepancy between the information in Beverley Building Society’s valuation report and what is in the conveyancing documents. My solicitor says that as he is on the Beverley Building Society conveyancing panel he must check that the lender is happy with this discrepancy and is content go ahead. Is my conveyancer’s stance right?
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.
I have been searching for competitive conveyancing fees. Can I be assured that all the firms that are listed on your directory are on the Beverley Building Society conveyancing panel?
The law firms on our directory have advised us that they are on the Beverley Building Society panel and agreed to advise us to take down their listing in the event of removal off of the Beverley Building Society panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the Beverley Building Society conveyancing panel is incorrect.
I was due to move into my first house two days ago. My solicitor is on the Beverley Building Society conveyancing panel but has changed address 8 weeks ago and had not informed Beverley Building Society of their new address. Beverley Building Society has locked down the release of mortgage funds as the information from the solicitors isn't correct.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Beverley Building Society branch or your mortgage broker to see if they can help.
Are all Conveyancing Quality Solicitors on the Beverley Building Society conveyancing panel?
A selection of banks and building societies now use the accreditation scheme as the starting point for Panel membership 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 remain on their panels.
Is there a list of Beverley Building Society panel solicitors on the Council of Mortgage Lender’s 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.
Do conveyancing solicitors on the Beverley 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