West Bromwich Building Society Solicitor Panel Sample Enquires to our Call Center from members of the public
My husband and I are FTBs. Within the 48 hours our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. West Bromwich Building Society have this morning contacted us to inform me that there is now an issue as our solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyers should contact West Bromwich Building Society and see if they can apply for membership of the West Bromwich Building Society conveyancing panel, but if that is not viable West Bromwich Building Society will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the West Bromwich Building Society conveyancing panel as you are at liberty to use your preferred lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
I am buying a brand new duplex and my solicitor is telling me that she has to reveal incentives from the developer as her firm is on the West Bromwich Building Society conveyancing panel. I am on a tight deadline to exchange and I would rather not delay the conveyancing. Can I insist on an exchange regardless of what my lawyer says about being on the West Bromwich Building Society panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the West Bromwich Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on West Bromwich Building Society). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am planning to acquire a property and need a conveyancing solicitor in who is on the West Bromwich Building Society approved. Could you point me in the right direction as regards a firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for West Bromwich Building Society . We don’t recommend any particular firm.
I was scheduled to move into my first house last Thursday. My lawyer’s firm is on the West Bromwich Building Society solicitors panel but has moved offices in the past couple of months and had not informed West Bromwich Building Society of their new address. West Bromwich Building Society has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local West Bromwich Building Society branch or your mortgage broker to see if they can assist.
Are all solicitor practices on the West Bromwich Building Society conveyancing panel regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the West Bromwich Building Society conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
Do the majority of banks 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 West Bromwich Building Society conveyancing panel requirements are different to West Bromwich Building Society’s conveyancing panel requirements.
My brother and I have had an offer accepted on a house I spoke to a conveyancer recommended by my mum and he advised retaining a law firm approved by West Bromwich Building Society. The estate agent recommended two local firms so I asked West Bromwich Building Society if the 2 suggested solicitors are approved, which they are not. West Bromwich Building Society pointed out that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of West Bromwich Building Society 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of West Bromwich Building Society for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the West Bromwich Building Society conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto West Bromwich Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet West Bromwich Building Society’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.