Frequently asked questions relating to the Leek BS Conveyancing Panel from members of the public
We are hoping to buy a 2 bedroom apartment in Hackney with a mortgage from Leek BS. We have a solicitor but Leek BS says he's not on their "panel". We have to appoint one of the Leek BS panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Leek BS use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Leek BS conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Leek BS
I am purchasing a brand new duplex and my lawyer is advising me that she is duty bound to disclose incentives from the developer as her practice is on the Leek BS conveyancing panel. The Estate Agents are hassling me to exchange contracts and I have no desire to delay matters. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Leek BS approved panel is to comply with the CML Handbook requirements (last updated for this lender on Leek BS). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are the lawyers identified as being on the Leek BS conveyancing panel, together with their details provided by Leek BS?
The firms themselves provide us confirmation that they are on the Leek BS conveyancing panel as opposed to being supplied with a list from Leek BS directly.
I am trying to get my ex-wife removed the mortgage deeds. Can Leek BS really tell me which solicitor I can or can not use?
You can use any solicitor you like but Leek BS then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Leek BS solicitors panel
is it true that all solicitor practices on the Leek BS conveyancing panel regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Leek BS 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 today made my last payment due on mortgage with Leek BS. I assume I don't need a solicitor on the Leek BS panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Leek BS mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leek BS mortgage from the register. Leek BS,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Leek BS has sent the Land Registry the discharge electronically, and
the Leek BS has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Leek BS mortgage has been paid off.
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 Leek BS on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Leek BS conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Leek BS panel she or he must comply with the CML Handbook requirements for Leek BS. Unless your lawyer obtains specific confirmation in writing that Leek BS 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 Leek BS to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.