FAQs : The Coventry Building Society Solicitor Panel from members of the public
Can you please explain the reason why all solicitors aren't included on the Coventry Building Society Conveyancing panel?
Coventry Building Society and other banks ordinarily restrict either the type or the number of conveyancing practices on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Coventry Building Society have no responsibility for the quality of advice provided by any member of Coventry Building Society Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
My nephew is in the process of securing a house that has just been built with a home loan from Coventry Building Society. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Coventry Building Society 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 Coventry Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Your search tool is useful but there are many lawyers listed near Coventry on the Coventry Building Society conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Coventry Building Society ?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
My house is up for sale and I have a buyer. Does my solicitor have to be on the Coventry Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Coventry Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
My brother and I have agreed a price on a apartment I spoke to a lawyer recommended by my mum and he advised using a property lawyers approved by Coventry Building Society. The estate agent recommended two local firms so I asked Coventry Building Society if the 2 suggested solicitors are approved, which they are not. Coventry Building Society suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Coventry 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 Coventry Building Society to suggest a law firm in your location. 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 Coventry 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 Coventry Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Coventry 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.
I can not work out if my mortgage offer requires a lease extension . I have called into my local branch Coventry Building Society on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Coventry Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 requirements for Coventry Building Society. Unless your lawyer obtains specific confirmation in writing that Coventry Building Society 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 Coventry Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
I recently had an offer accepted on an apartment. My mortgage broker suggested a solicitor I paid an upfront payment of 225. Soon after the conveyancers contacted me to say that they were not on the Coventry Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
