FAQs : The Cambridge Building Society Conveyancing Panel
from members of the public
My financial adviser has informed me that I have to pay Cambridge Building Society fees should I instruct my family lawyer. How good are the Cambridge Building Society conveyancing panel solicitors? I'm happy to use any solicitor in the country TBH provided that they are good and not exorbitantly priced. Are there any Cambridge Building Society conveyancers you'd recommend?
Cambridge Building Society’s conveyancing panel is substantial so it would be advisable to check with the firms you are getting quotes from whether they are on it. You can search by postcode on the search tool on this site to find solicitors that Cambridge Building Society will allow to act for them.
We are approaching an exchange and my mum and dad having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Cambridge Building Society. I am advised that, being on the Cambridge Building Society conveyancing panel and acting on their behalf he must inform Cambridge Building Society if the balance of the mortgage advance is not just from me. I advised the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Cambridge Building Society to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Cambridge Building Society if you agree, failing which, your lawyer must cease to continue acting.
Are the lawyers identified as being on the Cambridge Building Society conveyancing panel, together with their details provided by Cambridge Building Society?
The firms themselves provide us confirmation that they are on the Cambridge Building Society conveyancing panel as opposed to being supplied with a list from Cambridge Building Society directly.
I was due to move into my first house two days ago. My solicitor is on the Cambridge Building Society solicitors panel but has moved offices in the past couple of months and had not advised Cambridge Building Society of their new address. Cambridge Building Society is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. The majority of 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 Cambridge Building Society branch or your mortgage broker to see if they can assist.
I previously instructed online conveyancers located in Manchester who are on the Cambridge Building Society solicitor panel. They are now charging me a separate fee of £175 for the legal aspects of the Cambridge Building Society mortgage. Is this an additional conveyancing fee specified by Cambridge 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 Cambridge Building Society but by your lawyers. Some firms on the Cambridge Building Society will charge an ‘acting for lender’ fee and others do not.
I have had an offer accepted on a apartment I spoke to a lawyer recommended by my brother and he advised retaining a solicitor approved by Cambridge Building Society. The estate agent recommended two local firms so I asked Cambridge Building Society if the 2 suggested solicitors are approved, which they are not. Cambridge Building Society pointed out that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Cambridge Building Society 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Cambridge Building Society for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Cambridge Building Society conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Cambridge Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Cambridge Building Society’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
The mortgage over my property is with Cambridge Building Society. Conveyancing has been completed months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Cambridge Building Society?
Your original mortgage agreement with Cambridge Building Society will provide that you need their approval in advance of renting your property as this is likely to be a breach of Cambridge Building Society’s mortgage conditions. It may be that Cambridge Building Society will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Cambridge Building Society directly. It should not be necessary to do this via a Cambridge Building Society conveyancing panel firm.