Furness Building Society Solicitor Panel Recently Asked Questions from members of the public
My Solicitor is not on the Furness Building Society Solicitor Panel. Can I still continue with my family solicitor even though they are not on the Furness Building Society approved list?
You will need to have a conveyancer complete the legal work required when you take out a Furness Building Society mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Furness Building Society conveyancing panel additional costs will be incurred as separate legal representation will be required by Furness Building Society. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
My partner and I are refinancing our penthouse with Furness Building Society. We have a son approaching twenty who lives with us. The solicitor on the Furness Building Society conveyancing panel requested us to identify any adults 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 apartment is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Furness Building Society conveyancing panel as he never had to sign this form when we purchased 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Furness Building Society conveyancing panel solicitor is doing the right thing 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 require the services of a Furness Building Society panel solicitor in Belfast. Could you help me?
It is not clear why you need a Furness Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Furness Building Society to find out which solicitors in Furness Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
My lawyers in Newcastle have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with Furness Building Society. Is it case that being on the Furness Building Society conveyancing panel they need to have retained the file for a prescribed period?
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 Furness Building Society Conveyancing Panel Terms. It might be worth you contacting Furness Building Society directly.
Is it the case that all solicitors on the Furness Building Society conveyancing panel overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Furness Building Society conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I have agreed a price on a house I spoke to a lawyer recommended by my uncle and he advised using 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 firm 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.
Enquire of Furness Building Society for conveyancing panel firms in your area. 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.
Intending to buy a house with a mortgage with Furness 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 Furness 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 Furness Building Society conveyancing panel