Loughborough Building Society Solicitor Panel Recently Asked Questions from members of the public
A solicitor my husband and I had intended to instruct on a remortgage said he would charge more if my lender is due to their difficult processes! Am I likely to be frustrated using Loughborough Building Society? Any comments will be appreciated
Loughborough Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Loughborough Building Society conveyancing panel. If they are not, this does add further risk of delay as Loughborough Building Society will appoint their own solicitors to look after their interest.
Our nephew is purchasing a newly built flat with a home loan from Loughborough Building Society. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form 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 Loughborough 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 Loughborough 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 up to date is your database of lawyers on the Loughborough Building Society conveyancing panel? Do Loughborough Building Society send you an updated list?
The law firm practices themselves provide us confirmation that they are on the Loughborough Building Society conveyancing panel as opposed to being supplied with a list from Loughborough Building Society directly.
My grandmother passed away last year and as sole heir and executor was left the house. The house had a small mortgage remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Loughborough Building Society , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Loughborough Building Society will insist on your using a conveyancer on the Loughborough Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Loughborough Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Loughborough Building Society mortgage is registered as a charge at the Land Registry.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Loughborough Building Society conveyancing panel?
Some major banks and building societies now use CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
How can we tell if a solicitor on the Loughborough Building Society panel is any good?
obtaining recommendations is a good 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 recommend that you speak with the solicitor conducting your conveyancing
My ex -wife’s name is on the Loughborough Building Society mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Loughborough Building Society mortgage in order to sell?
As regards the Loughborough Building Society mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Loughborough Building Society in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
