Common questions asked concerning the Tipton Coseley Building Society Solicitor Panel
from members of the public
Am I correct in assuming that the fact that my solicitor is not isted on the Tipton Coseley Building Society Conveyancing panel that there is a problem with the quality of his work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Tipton Coseley Building Society.
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 Tipton Coseley Building Society will not agree to this. Why was Tipton Coseley Building Society even consulted?
Your lawyer being on the Tipton Coseley Building Society conveyancing panel is duty bound to inform Tipton Coseley Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Tipton Coseley Building Society then they would have to discontinue acting for you and Tipton Coseley Building Society.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Tipton Coseley Building Society conveyancing panel. My lawyer has said that they are on the Tipton Coseley Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Tipton Coseley Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Tipton Coseley Building Society solicitor panel.
The lawyers that I appointed last week on my purchase in Brighton has suddenly shut down. I only went with them because I needed a lawyer on the Tipton Coseley Building Society conveyancing panel and my preferred lawyer was not. I gave them a cheque for £150 in advance. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Tipton Coseley Building Society conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help
Do conveyancing solicitors on the Tipton Coseley Building Society conveyancing panel work on a no move no charge basis?
In the main 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 package
I'm in the process of looking at flats and am about to put in an offer. Should I already have a conveyancer appointed at this stage? I intend to finance via a home loan with Tipton Coseley Building Society
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Tipton Coseley Building Society , ask your prospective lawyers check they are on the Tipton Coseley Building Society conveyancing panel otherwise they can't do the mortgage legal work.
Tipton Coseley Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Tipton Coseley Building Society or your broker and complete any relevant paperwork. Tipton Coseley Building Society will tell you what documents they want. Tipton Coseley Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Tipton Coseley Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.