Darlington Building Society Conveyancing Panel : Questions and Answers from members of the public
I am selling my house and the EA has just called to say that the buyers are swapping solicitor. I am told that this is due to the fact that Darlington Building Society will only work with solicitors on their conveyancing panel. Why would a major lender only deal with certain solicitors?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks blame a rise in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
Can you clarify something for me?. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from Darlington Building Society was dated random date and we have agreed a date for me to move into the property on 6. My solicitor says that as she is on the Darlington Building Society conveyancing panel she needs to redo the searches as they are no longer acceptable to the lender.
One of the many conditions to being on the Darlington Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Darlington Building Society)which states that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Darlington Building Society.
I see that you have a post code search directory identifying firms on the Darlington Building Society conveyancing panel. Do firms pay you a referral fee if I instruct them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Darlington Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My conveyancers in Leeds have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with Darlington Building Society. Is it case that being on the Darlington Building Society conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Darlington Building Society Conveyancing Panel Terms. It might be worth you contacting Darlington Building Society directly.
When it comes to lenders such as Darlington Building Society do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
We have agreed a price on a apartment I spoke to a lawyer previously used by my uncle and he recommended instructing a solicitor approved by Darlington Building Society. The estate agent recommended two local firms so I asked Darlington Building Society if the 2 suggested solicitors are approved, which they are not. Darlington 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 Darlington 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 Darlington 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 Darlington 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 Darlington Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Darlington 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.
Planning on purchasing a house with a mortgage with Darlington Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Darlington Building Society 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 Darlington Building Society conveyancing panel