Furness Building Society Solicitor Panel Example Support Desk Enquires from members of the public
Much to my surprise I have been told by my mortgage adviser that my property lawyer is not on the Furness Building Society Solicitor panel. How can I be sure that this is correct?
You need to contact your conveyancer. You lawyer should advise you of the situation. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for Furness Building Society.
My son is purchasing a newly built flat with a mortgage from Furness Building Society. His conveyancer 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 document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Furness Building Society conveyancing panel as a standard part of the process, and to the surveyor 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 Furness 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.
How do I search for a local solicitor on the Furness Building Society conveyancing panel? I have a car and am prepared to travel up to 20 miles to meet the conveyancer.
You can use the find a conveyancing panel search on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Furness Building Society solicitor panel.
I am considering mortgaging my apartment does my lawyer need to be on the Furness Building Society Solicitor panel?
In theory, you could use a solicitor that is not on Furness Building Society conveyancing panel, but Furness Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Furness Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Furness Building Society your lawyer must to check the Furness Building Society conveyancing instructions contained in the Part of CML Handbook for Furness Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Furness Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
I am about to exchange contracts on a purchase with a mortgage from Furness Building Society. The report from my solicitor mentions that Furness Building Society could withdraw their offer before completion. Is this right?
Lenders such as Furness Building Society can revoke their mortgage offer although this rarely happens. should Furness Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a few examples:
- Furness Building Society may amend or withdraw an offer if the Furness Building Society conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
- Where the lender has to take account a recent change in taxation
- If the solicitor on the Furness Building Society conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Furness Building Society ‘s instructions
Furness Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Furness Building Society or your broker and complete any relevant paperwork. Furness Building Society will tell you what documents they want. Furness Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Furness Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.