Frequently asked questions relating to the Suffolk Building Society Conveyancing Panel
from members of the public
My property lawyer has never been on on the Suffolk Building Society Approved Panel. Is it possible for me to continue with my preferred solicitor even though they are not on the Suffolk Building Society approved list?
You will need to have a conveyancer complete the legal work required when you take out a Suffolk Building Society mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Suffolk Building Society conveyancing panel additional costs will be incurred as separate legal representation will be required by Suffolk Building Society. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
We are getting closer to an exchange and my mum and dad having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Suffolk Building Society. I am advised that, being on the Suffolk Building Society conveyancing panel and acting on their behalf he must inform Suffolk Building Society if the balance of the mortgage advance is coming from anyone other than me. I disclosed to the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Suffolk Building Society to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Suffolk Building Society if you agree, failing which, your lawyer must cease to continue acting.
I see that you have a search directory listing law firms on the Suffolk Building Society conveyancing panel. Do firms pay you a commission if I appoint them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Suffolk Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I would like to get my ex-wife 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
Is it the case that all conveyancing solicitors on the Suffolk Building Society conveyancing panel work on a no sale no fee basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
We were going to get a DIP from Suffolk Building Society this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Suffolk Building Society recommend a solicitor on the Suffolk Building Society conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Suffolk Building Society conveyancing panel. The solicitor represents both you and the Suffolk Building Society through the process.
It is not clear whether my mortgage offer requires a lease extension . I have telephoned Suffolk Building Society on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Suffolk Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Suffolk Building Society. Unless your lawyer obtains specific confirmation in writing that Suffolk 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 Suffolk Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.