Tipton Coseley Building Society Conveyancing Panel Recently Asked Questions from members of the public
Much to my surprise I have been told by my estate agent that my the law firm I have appointed is not on the Tipton Coseley Building Society Conveyancing panel. What can I do to check?
The best course of action for you to take is to contact your conveyancer. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for Tipton Coseley Building Society.
Our son-in-law is about to exchange on a newly built flat with a home loan from Tipton Coseley Building Society. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Tipton Coseley Building Society conveyancing panel as a standard part of the process, and to the surveyor when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Tipton Coseley Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am planning to acquire a property and require a conveyancing solicitor in Liverpool who is on the Tipton Coseley Building Society solicitor. Can you recommend a local firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Tipton Coseley Building Society . We don’t recommend any particular firm.
I would like to get my ex-wife removed the mortgage deeds. Can Tipton Coseley Building Society really tell me which solicitor I can or can not instruct?
You can use any solicitor you like but Tipton Coseley 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 Tipton Coseley Building Society solicitors panel
I had instructed online conveyancers based in London who are on the Tipton Coseley Building Society solicitor panel. They are now charging me a separate fee of £175 for the legal aspects of the Tipton Coseley Building Society mortgage. Is this an additional conveyancing fee specified by Tipton Coseley Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Tipton Coseley Building Society but by your lawyers. Some firms on the Tipton Coseley Building Society will charge an ‘acting for lender’ fee and others do not.
In what circumstances might Tipton Coseley Building Society amend or withdraw their mortgage offer?
Lenders such as Tipton Coseley Building Society can revoke their mortgage offer although this is unusual. In the unlikely event that Tipton Coseley Building Society withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are various possible reasons but here are a number of examples:
- Tipton Coseley Building Society may amend or withdraw an offer if the Tipton Coseley Building Society conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- If the borrower informs Tipton Coseley Building Society of a change in the loan amount agreed
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
- If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
It is not clear whether my mortgage offer requires a lease extension . I have called into my local branch Tipton Coseley Building Society on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Tipton Coseley Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 requirements for Tipton Coseley Building Society. Unless your lawyer obtains specific confirmation in writing that Tipton Coseley 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 Tipton Coseley Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.