FAQs : The Family Building Society Conveyancing Panel from members of the public
The solicitor my fiance and I had intended to instruct on a remortgage said he would charge more if my lender is because of their difficult processes! Will I regret using Family Building Society? Is Family Building Society conveyancing so much more difficult?
Family Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Family Building Society conveyancing panel. If they are not, this does add further risk of delay as Family Building Society will appoint their own solicitors to look after their interest.
We are nearing an exchange and my parents 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 Family Building Society. Apparently, being on the Family Building Society conveyancing panel and acting on their behalf he must inform Family 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 him to raise this?
Your lawyer is obliged to check with Family 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 Family Building Society if you agree, failing which, your lawyer must cease to continue acting.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Family Building Society conveyancing panel. My lawyer has said that they are on the Family Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Family Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Family Building Society solicitor panel.
I was supposed to move into my first house two days ago. My lawyer’s firm is on the Family Building Society solicitors panel but has moved offices 8 weeks ago and had not informed Family Building Society of their new address. Family Building Society has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. Most 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 Family Building Society branch or your mortgage broker to see if they can help.
How can we tell if a solicitor on the Family Building Society panel is any good?
obtaining 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 suggest that you speak with the solicitor handling your transaction
Hi, thinking about buying a house off my mate. Assuming we can agree a figure, what’s the best way to move forward? I hope to get a mortgage with Family Building Society. Is it possible to avoid using solicitors to save us both money? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Family Building Society involved you will need to appoint a solicitor on the Family Building Society conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Family Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Family Building Society conveyancing panel.
I am about to exchange contracts on a purchase with a mortgage from Family Building Society. The report from my solicitor mentions that Family Building Society could withdraw their offer before completion. Is this right?
Lenders such as Family Building Society can withdraw their mortgage offer although this is unusual. In the unlikely event that Family Building Society withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are various possible reasons but here are a number of examples:
- Where information comes to Family Building Society ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- Many mortgage offers have an expiry date. Your lawyer should check this. Family Building Society may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
- If the financial circumstances of the borrower have changed to the detriment and the Family Building Society has been notified
- If the borrower informs Family Building Society of a change in security address
- Where the Lender’s right to possession is fettered in some way