Examples of recent questions relating to the Furness Building Society Solicitor Panel from members of the public
Is the fact that my conveyancer is not isted on the Furness Building Society Solicitor panel that there is a problem with the standard of the firm’s work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Furness Building Society.
My partner and I intend to remortgage our apartment with Furness Building Society. We have a son 18 who lives with us. The solicitor on the Furness Building Society conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is repossessed. I have two questions (1) Is this form unique to the Furness Building Society conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Furness Building Society .This is solely used to protect the Furness Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Furness Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I have been searching for online conveyancing estimates. Can I be assured that all the practices that are identified on your site are on the Furness Building Society conveyancing panel?
The law firms listed on our site have assured us via an online form that they are on the Furness Building Society panel and agreed to advise us to take down their listing in the event of removal off of the Furness Building Society panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific firm being on the Furness Building Society conveyancing panel is incorrect.
We're in London, First timers buying with a mortgage (lender is Furness Building Society , but our lawyer is on the Furness Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Furness 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 had an offer accepted on a apartment I spoke to a conveyancer previously used by my mum and he recommended retaining a property lawyers approved by Furness Building Society. The estate agent recommended two local firms so I asked Furness Building Society if the 2 suggested solicitors are approved, which they are not. Furness Building Society suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Furness 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.
Ask Furness Building Society to suggest a law firm in your location. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Furness 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 Furness Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Furness 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 obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called into my local branch Furness Building Society on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Furness Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Furness Building Society. Unless your lawyer obtains specific confirmation in writing that Furness 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 Furness Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
I have instructed a lawyer having made sure that they are on the Furness Building Society conveyancing panel. Does my lawyer arrange the survey of the property?
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Having read lots of house buying,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Furness Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Furness Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Furness Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Furness Building Society you could contact your them to see if they have a list of approved surveyors.