Loughborough Building Society Solicitor Panel Sample Enquires to our Call Center from members of the public
On what basis could a firm of solicitors be excluded from the Loughborough Building Society approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been removed from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Loughborough Building Society
can you help? My conveyancer is advising me that he has to apply for a Local Authority search as the firm are on the Loughborough Building Society solicitor panel. The searches cost a lot of money. Can this be avoided?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with Loughborough Building Society your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Loughborough Building Society’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Loughborough Building Society. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
How do I find a local solicitor on the Loughborough Building Society conveyancing panel? I have a car and am prepared to travel up to 20 kilometers to meet the conveyancer.
You can use 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 Loughborough Building Society solicitor panel.
My lawyers in Birmingham have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with Loughborough Building Society. Is it case that being on the Loughborough Building Society conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements 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 Loughborough Building Society Conveyancing Panel Terms. It might be worth you contacting Loughborough Building Society directly.
I have agreed a price on a apartment I spoke to a solicitor recommended by my mum and he suggested instructing a property lawyers approved by Loughborough Building Society. The estate agent recommended two local firms so I asked Loughborough Building Society if the 2 suggested solicitors are approved, which they are not. Loughborough Building Society suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Loughborough 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.
Ask Loughborough Building Society for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Loughborough 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 Loughborough Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Loughborough 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.
My fiance and I are in the process of viewing houses and am about to put in an offer. Should I already have a conveyancer appointed at this stage? I will be getting a mortgage with Loughborough Building Society
It would be sensible to have your start your search soon rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Loughborough Building Society , ask your prospective lawyers check they are on the Loughborough Building Society conveyancing panel otherwise they can't do the mortgage legal work.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called Loughborough Building Society on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Loughborough Building Society 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?
Your lawyer has to follow the CML Handbook Part 2 requirements for Loughborough Building Society. Unless your lawyer obtains specific confirmation in writing that Loughborough Building Society 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 Loughborough Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
