Q and A’s regarding the Cambridge Building Society Conveyancing Panel
from members of the public
I have been advised by my broker that I have to pay Cambridge Building Society fees should I instruct my family lawyer. How efficient are the Cambridge Building Society conveyancing panel solicitors? I'm happy to use any solicitor in the country TBH as long as they're good and reasonably priced. Are there any Cambridge Building Society conveyancers you'd recommend?
Cambridge Building Society’s conveyancing panel is pretty large so your best bet is just 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 due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Cambridge Building Society will not agree to this. Why was Cambridge Building Society even consulted?
Your lawyer being on the Cambridge Building Society conveyancing panel is duty bound to inform Cambridge Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Cambridge Building Society then they would have to discontinue acting for you and Cambridge Building Society.
Do banks and building societies provide you with an approved list of solicitors? How do you know who is on the Cambridge Building Society conveyancing panel?
The law firm practices 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.
We're in London, First timers purchasing with a mortgage (lender is Cambridge Building Society , but our lawyer is on the Cambridge Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Cambridge Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Cambridge Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Cambridge Building Society your lawyer must to check the Cambridge Building Society conveyancing instructions contained in the Part of CML Handbook for Cambridge Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Cambridge Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Cambridge Building Society are being a right pain. The solicitor who is on the Cambridge Building Society conveyancing panel is recommending indemnity insurance as a solution but Cambridge Building Society are requiring a building regulation certificate. Why do Cambridge Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Cambridge Building Society have referred the matter to their valuer. The reason why Cambridge Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
Cambridge 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 Cambridge Building Society or your broker and complete any relevant paperwork. Cambridge Building Society will tell you what documents they want. Cambridge 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. Cambridge 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.