Leek United BS Solicitor Panel Example Support Desk Enquires from members of the public
I would like to know the reason why all property lawyers are not on the Leek United BS Solicitor panel?
Pre- 2008 most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
My husband and I intend to remortgage our flat with Leek United BS. We have a son 18 who lives with us. The solicitor on the Leek United BS 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 property is repossessed. I have two concerns (1) Is this form unique to the Leek United BS conveyancing panel as he did not need 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?
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 Leek United BS .This is solely used to protect the Leek United BS 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 Leek United BS 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.
What tools are available to search for a local solicitor on the Leek United BS conveyancing panel? I have a car and am prepared to travel up to 20 kilometers to meet the lawyer.
Feel free to make use of the find a conveyancing panel tool on this website. 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 Leek United BS solicitor panel.
I was due to move into my flat yesterday. My lawyer’s firm is on the Leek United BS solicitors panel but has changed address 8 weeks ago and had not informed Leek United BS of their new address. Leek United BS has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Leek United BS branch or your mortgage broker to see if they can assist.
Do most lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Leek United BS conveyancing panel requirements are different to Leek United BS’s conveyancing panel criteria.
I am buying a property where the roof has a solar panel. Leek United BS 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 you are obtaining a mortgage with Leek United BS your lawyer must to check the Leek United BS conveyancing instructions contained in the Part of CML Handbook for Leek United BS . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Leek United BS 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.
It is not clear whether my mortgage offer requires a lease extension . I have called Leek United BS on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Leek United 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 United BS panel she or he must comply with the CML Handbook requirements for Leek United BS. Unless your lawyer obtains specific confirmation in writing that Leek United 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 United BS to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
