Swansea Building Society Conveyancing Panel : Questions and Answers
from members of the public
For what reasons could a firm of solicitors be removed from the Swansea Building Society approved conveyancing panel?
According to a recent survey report by the solicitors regulator three quarters of solicitor practices had been excluded from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Swansea Building Society
Please assist. My lawyer is not to blame but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Swansea Building Society was dated random date and we have agreed a date for me to move into the property on 6. My lawyer says that as she is on the Swansea Building Society conveyancing panel she needs to reorder the searches as they are now out of date.
A precondition to being on the Swansea Building Society approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Swansea Building Society)which states that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Swansea Building Society.
Do all the firms listed on your search have online case tracking as I understood that this was a condition of being on the Swansea Building Society solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
My aunt passed away last year and as sole heir and executor was left the property. The house had a small mortgage remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Swansea Building Society , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Swansea Building Society will insist on your using a conveyancer on the Swansea 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 Swansea 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 Swansea Building Society mortgage is registered as a charge at the Land Registry.
Can I be sure that the solicitor on the Swansea Building Society panel is any good?
Getting recommendations is a sensible 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 advise that you speak with the solicitor carrying out your conveyancing
I am buying a property where the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Swansea Building Society be concerned
Given that you are obtaining a mortgage with Swansea Building Society your lawyer must to check the Swansea Building Society conveyancing instructions contained in the Part of CML Handbook for Swansea Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Swansea Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to move forward? I hope to get a mortgage with Swansea Building Society. Is it possible to avoid using solicitors to save on the costs? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Swansea Building Society involved you will need to appoint a solicitor on the Swansea Building Society conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Swansea Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Swansea Building Society conveyancing panel.