FAQs : The Leeds Building Society Solicitor Panel
from members of the public
I am expecting a offer of a mortgage from Leeds Building Society. I would like to instruct a Licensed Conveyancer. Does the Leeds Building Society Solicitor panel include Licensed Conveyancers
Leeds Building Society’s conveyancing panel is, like many other lenders represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
I am purchasing a newly built flat and my lawyer is telling me that she is duty bound to reveal incentives from the seller as her firm is on the Leeds Building Society conveyancing panel. I am under pressure to sign contracts and my preference is not to delay matters. Can I insist on an exchange regardless of what my lawyer says about being on the Leeds Building Society panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Leeds Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Leeds Building Society). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I require the services of a Leeds Building Society panel solicitor in Belfast. Can you assist?
Unfortunately it’s not apparent why you need a Leeds 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 Leeds Building Society to find out which solicitors in Leeds Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
Please explain the implications if my lawyer’s firm is removed from the Leeds Building Society Solicitor panel in advance of the moving date as agreed at exchange of contracts?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Can I be sure that the solicitor on the Leeds Building Society panel is any good?
seeking recommendations is a sensible starting point. 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 advocate that you speak with the lawyer carrying out your transaction
Planning on purchasing a house with a mortgage with Leeds 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 Leeds 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 Leeds Building Society conveyancing panel
I was told three weeks ago that my mortgage has been agreed
to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyers application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.