FAQs for the Bradford & Bingley Conveyancing Panel from members of the public
My partner and I are FTBs. Within the 48 hours our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Bradford & Bingley have this afternoon contacted us to inform me that they have now hit a problem as our lawyer is not on their conveyancing panel. Please explain?
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 property lawyers should contact Bradford & Bingley and see if they can apply for membership of the Bradford & Bingley conveyancing panel, but if that is not viable Bradford & Bingley will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the Bradford & Bingley conveyancing panel and you may continue to use your own solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
My conveyancing solicitor is asking me for identification documents asserting that this forms part of his retainer as a solicitor on the Bradford & Bingley Conveyancing panel. This is news to me - can I refuse?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Bradford & Bingley your lawyer also has to check ID documents to satisfy Bradford & Bingley
Is it necessary during the course of the conveyancing process to pop into the offices of the Bradford & Bingley conveyancing panel solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Manchester
so that I can attend their offices when needed.
Most conveyancing panel lawyers for Bradford & Bingley 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.
Please explain the implications if my lawyer’s firm is removed from the Bradford & Bingley Conveyancing panel before the moving date as agreed at exchange of contracts?
The first thing to point out is that, 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.
Can I be sure that the solicitor on the Bradford & Bingley panel is any good?
Getting recommendations is a good start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor conducting your transaction
Intending to buy a flat with a mortgage with Bradford & Bingley. 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 Bradford & Bingley 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 Bradford & Bingley conveyancing panel
Bradford & Bingley 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 Bradford & Bingley or your broker and complete any relevant paperwork. Bradford & Bingley will tell you what documents they want. Bradford & Bingley 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. Bradford & Bingley 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.
