Examples of recent questions relating to the Swansea Building Society Conveyancing Panel from members of the public
My financial adviser has says he needs my solicitor’s panel member for the Swansea Building Society conveyancing panel. Can you suggest how I find this out. I have tried my local Swansea Building Society office but they cant find it on their system.
the sensible thing to do is ask for this information from your solicitor. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Swansea Building Society.
I am due to move into my new home next Monday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as he says that he has to check this in has capacity as lawyer for Swansea Building Society. What does the insurance need to cover?
All property lawyers on the Swansea Building Society conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Swansea Building Society’s Part 2 requirements of the CML Handbook (last updated on Swansea Building Society). Being on the Swansea Building Society conveyancing panel your lawyer is expect to follow these requirements.
I require the services of a Swansea Building Society panel solicitor in Stirling. Could you help me?
Unfortunately it’s not apparent why you need a Swansea 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 Swansea Building Society to find out which solicitors in Swansea 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
What happens if my solicitor is expelled from the Swansea Building Society Conveyancing panel in advance of completion?
First, 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.
Do most lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Swansea Building Society conveyancing panel requirements are different to Swansea Building Society’s conveyancing panel requirements.
I am buying a property where the roof has a solar panel. Swansea Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is 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 had an offer accepted on a house on the 5th January 2014, valuation was booked five days after, all came back fine. Solicitor retained, so all that was missing was my mortgage offer. Having made daily calls to Swansea Building Society and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Swansea Building Society conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Swansea Building Society to deal with your lawyers application to be on the Swansea Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.