Birmingham Bank Solicitor Panel Recently Asked Questions from members of the public
The conveyancer my husband and I wanted to use for conveyancing on a purchase said she will levy higher legal fees if my mortgage is with Birmingham Bank because of their unusual legal requirements. Will I regret using Birmingham Bank? Is Birmingham Bank conveyancing so much more difficult?
Birmingham Bank conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Birmingham Bank conveyancing panel. If they are not, this does add further risk of delay as Birmingham Bank will appoint their own solicitors to look after their interest.
Our son is about to exchange on a new build apartment with a home loan from Birmingham Bank. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Birmingham Bank conveyancing panel as a standard part of the process, and to the valuer when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Birmingham Bank conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the Birmingham Bank conveyancing panel solicitor to sign the legal charge? If so, I will choose one who does conveyancing in London
so that I can pop in to their offices when needed.
Most conveyancing panel lawyers for Birmingham Bank undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
I am remortgaging my apartment does my lawyer have to be on the Birmingham Bank Conveyancing panel?
In theory, you could use a solicitor that is not on Birmingham Bank conveyancing panel, but Birmingham Bank would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I previously instructed online conveyancers based in Cardiff who are on the Birmingham Bank solicitor panel. They are now charging me a separate fee of £195 for the legal aspects of the Birmingham Bank mortgage. Is this a supplemental conveyancing fee specified by Birmingham Bank?
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 Birmingham Bank but by your lawyers. Some firms on the Birmingham Bank will charge an ‘acting for lender’ fee and others do not.
For 5 years I had a mortgage with Birmingham Bank. My father has just retired and wants to pay off my mortgage. After Birmingham Bank is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Birmingham Bank conveyancing panel? I do not intend to live at the property once the Birmingham Bank mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Birmingham Bank panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
I can not work out if my mortgage offer requires a lease extension . I have telephoned Birmingham Bank on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Birmingham Bank 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
Your lawyer has to follow the CML Handbook Part 2 requirements for Birmingham Bank. Unless your lawyer obtains specific confirmation in writing that Birmingham Bank 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 Birmingham Bank to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.