Examples of recent questions relating to the Penrith Building Society Conveyancing Panel from members of the public
I need to swap lawyers as my lawyer is not on the Penrith Building Society panel of conveyancing solicitors. How easy is it to change conveyancer?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
My wife and I intend to remortgage our penthouse with Penrith Building Society. We have a son 18 who lives with us. The solicitor on the Penrith Building Society conveyancing panel has asked us to disclose anyone over the age of 17 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 Penrith Building Society conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Penrith Building Society conveyancing panel solicitor is doing the right thing 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 Penrith Building Society .This is solely used to protect the Penrith Building Society 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 Penrith Building Society 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.
Do lenders provide you with an approved list of solicitors? How do you know who is on the Penrith Building Society conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the Penrith Building Society conveyancing panel as opposed to being supplied with a list from Penrith Building Society directly.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Penrith Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Penrith Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Penrith Building Society conveyancing panel?
Some major banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives 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.
After shopping around on the internet I have found a solicitor having made sure that they are on the Penrith Building Society conveyancing panel. Does my lawyer arrange the survey of the property?
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I've read lots of mortgage guides,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Penrith Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Penrith Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Penrith Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Penrith Building Society you could contact your them to see if they have a list of approved surveyors.
My brother and I are remortgaging a house in Hendon. Conveyancing solicitors in Hendon will soon beinstructed. My brokersuggested that we check that the solicitor in Hendon is on the Penrith Building Society list of approved conveyancing firms. Surely I don't need to do this, do I?
Not all Hendon conveyancing practices are on the Penrith Building Society conveyancing panel. 7 people a month use our search tool to locate a Hendon conveyancing practitioner on the on the Penrith Building Society list of approved conveyancing firms.
