FAQs : The Suffolk Building Society Conveyancing Panel from members of the public
My Conveyancer is not on the Suffolk Building Society Approved Panel. Is it possible for me to retain my preferred solicitor even though they are not on the Suffolk Building Society panel of approved conveyancing solicitors?
You have a number of options available to you here:
- Complete the purchase with your preferred solicitors but Suffolk Building Society will need to instruct a lawyer on the Suffolk Building Society conveyancing panel. This will result in additional cost and potential delay.
- Get a new solicitor to act in the purchase, obviously checking they are on the Suffolk Building Society conveyancing panel.
- Urge your lawyer to apply to join the Suffolk Building Society lender panel
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Suffolk Building Society will not agree to this. Why was Suffolk Building Society even consulted?
Your lawyer being on the Suffolk Building Society conveyancing panel is duty bound to inform Suffolk Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Suffolk Building Society then they would have to discontinue acting for you and Suffolk Building Society.
I need to find a Suffolk Building Society panel solicitor in Inverness. Can you assist?
It is not clear why you need a Suffolk Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Suffolk Building Society to find out which solicitors in Suffolk Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
I would like to get my ex-husband removed the mortgage deeds. Can Suffolk Building Society really tell me which solicitor I can or can not use?
You can use any solicitor you like but Suffolk Building Society then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Suffolk Building Society solicitors panel
I'm at the point of viewing houses and am about to put in an offer. Is it best to have a conveyancer on ‘stand by’? I intend to finance via a home loan with Suffolk Building Society
You should start obtaining conveyancing quotes from solicitors ASAP. 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 Suffolk Building Society , ask your prospective lawyers check they are on the Suffolk Building Society conveyancing panel otherwise they can't do the mortgage legal work.
For 5 years I had a mortgage with Suffolk Building Society. My uncle has just retired and wants to pay off my mortgage. After Suffolk Building Society is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Suffolk Building Society conveyancing panel? I do not intend to live at the property once the Suffolk Building Society mortgage is discharged.
You
will need a solicitor but they need not be on the Suffolk Building Society conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What should be my next step? When should I get the mortgage app going with Suffolk Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Suffolk Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Suffolk Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.