West Bromwich Building Society Conveyancing Panel Sample Enquires to our Call Center from members of the public
I am in the process of selling my maisonette and the EA has just telephoned to warn that the buyers are appointing a new conveyancer. I am told that this is due to the fact that West Bromwich Building Society will only work with property lawyers on their conveyancing panel. On what basis would a major mortgage company only deal with specific solicitors?
Banks have always had panels of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks blame a rise in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
I do hope you can help me. My lawyer is informing me me that she is duty-bound to conduct a Local Authority search stemming from the fact that the firm are on the West Bromwich Building Society conveyancing panel. Is my lawyer correct?
You have limited options available to you. Given that you are taking out a loan with West Bromwich Building Society your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of West Bromwich Building Society’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated West Bromwich Building Society. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I am Googling for competitive conveyancing fees. Can I be assured that all the law firms that are identified on your site are on the West Bromwich Building Society conveyancing panel?
The law firms listed on our site have advised us that they are on the West Bromwich Building Society panel and agreed to advise us to take down their listing in the event of removal off of the West Bromwich Building Society panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the West Bromwich Building Society conveyancing panel is incorrect.
My conveyancers in Newcastle have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with West Bromwich Building Society. Is it case that being on the West Bromwich Building Society conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the West Bromwich Building Society Conveyancing Panel Terms. It might be worth you contacting West Bromwich Building Society directly.
Do conveyancing lawyers on the West Bromwich Building Society conveyancing panel work on a no move no charge basis?
There is generally 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 service
I was told four weeks ago that my mortgage has been agreed
to by West Bromwich Building Society. Is it usual for West Bromwich Building Society to only issue the offer once my
solicitor is approved on their conveyancing panel?
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 West Bromwich Building Society to deal with your lawyers application to be on the West Bromwich Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.
We are are taking a long lease of a flat in Hendon. Conveyancing solicitors in Hendon are preferred to beappointed. My mothersuggested that we double-check that the solicitor in Hendon is on the West Bromwich Building Society solicitors panel. Aren't all lawyers on the West Bromwich Building Society panel?
Not all Hendon conveyancing firms are on the West Bromwich Building Society conveyancing panel. 5 people a month use our search tool to search for a Hendon conveyancing lawyer on the on the West Bromwich Building Society list of approved conveyancing firms.