Frequently asked questions relating to the Stafford Railway Building Society Conveyancing Panel from members of the public
My IFA has says he needs my lawyer’ panel reference for the Stafford Railway Building Society conveyancing panel. What is the best way to discover this. I have contacted my local Stafford Railway Building Society office but they have not got back to me yet.
You are best placed to get this information from your conveyancing lawyer. They should have a central record lender panel numbers including the Stafford Railway Building Society panel reference.
My fiance and I changing mortgage lender for our apartment with Stafford Railway Building Society. We have a son 19 who lives with us. The solicitor on the Stafford Railway Building Society conveyancing panel requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Stafford Railway Building Society conveyancing panel as he never had to sign this form when we bought 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Stafford Railway 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 Stafford Railway Building Society .This is solely used to protect the Stafford Railway 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 Stafford Railway 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.
I note that you have a post code search directory listing law firms on the Stafford Railway Building Society conveyancing panel. Do firms pay you a commission if I appoint them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Stafford Railway Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
Please explain the implications if my lawyer’s firm is removed from the Stafford Railway Building Society Solicitor panel in advance of the moving date as agreed at exchange of contracts?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Last month we had a mortgage agreed in principle with Stafford Railway Building Society. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from Stafford Railway Building Society?
Some lenders take longer than others. Have Stafford Railway Building Society done the valuation? Have you advised Stafford Railway Building Society as your lawyers details and checked that your lawyer is on the Stafford Railway Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
The for formalities of my purchase has taken place with a loan from Stafford Railway Building Society. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about Stafford Railway Building Society. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the Stafford Railway Building Society branches or the Customer Services Department at Stafford Railway Building Society head office. In most cases complaints to Stafford Railway Building Society are sorted out very quickly. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service with full details of your complaint.
I recently had an offer accepted on an apartment. My financial adviser recommended their conveyancers I paid an upfront payment of 200. Soon after the conveyancers contacted me to say that they were not on the Stafford Railway Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Stafford Railway Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.