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approved by Ipswich Building Society
Ready to buy a new home? Failing to check that a lawyer is on the Ipswich Building Society list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?
How does my firm apply to be on the Ipswich Building Society Conveyancing Panel? How can my firm be reinstated onto the Ipswich Building Society Conveyancing Panel?Find an Approved Solicitor on the Ipswich Building Society Conveyancing Panel
Frequently asked questions relating to the Ipswich Building Society Conveyancing Panel
Is the fact that my conveyancer is not on the Ipswich Building Society Conveyancing panel that there is a problem with the standard of the firm’s 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 most common reasons for removal are: (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 Ipswich Building Society.
My solicitor has identified a discrepancy when comparing the information in Ipswich Building Society’s valuation survey and what is in the legal papers for the property. My solicitor says that as he is on the Ipswich Building Society conveyancing panel he is duty bound to check that the bank is OK with this discrepancy and is content go ahead. Is my conveyancer’s stance right?
A precondition to being on the Ipswich Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Ipswich Building Society) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
How do I search for a local solicitor on the Ipswich Building Society conveyancing panel? I have a car and am prepared to travel up to 20 miles to meet the lawyer.
Feel free to make use of the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Ipswich Building Society solicitor panel.
Please explain the implications if my solicitor is removed from the Ipswich Building Society Conveyancing panel in advance of the moving date as agreed at exchange of contracts?
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.
My husband and I are in the process of looking at apartments and am about to put in an offer. Is it best to have a conveyancer on ‘stand by’? I intend to finance via a home loan with Ipswich Building Society
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Ipswich Building Society , make sure you remember to check that your lawyer is on the Ipswich Building Society conveyancing panel.
I am selling my apartment. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Ipswich Building Society are being a right pain. The solicitor who is on the Ipswich Building Society conveyancing panel is saying indemnity insurance will be fine but Ipswich Building Society are insisting on a building regulation certificate. Why do Ipswich Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Ipswich Building Society have referred the matter to their valuer. The reason why Ipswich Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What do I do now? At what point should I appy for the mortgage with Ipswich Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Ipswich Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Ipswich Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.