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approved by Stafford Railway BS
Ready to buy a new home? Failing to check that a lawyer is on the Stafford Railway BS list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Stafford Railway Building Society Conveyancing Panel? How can my firm be reinstated onto the Stafford Railway Building Society Conveyancing Panel?Find an Approved Solicitor on the Stafford Railway Building Society Conveyancing Panel
Stafford Railway Building Society Conveyancing Panel : Questions and Answers
I am selling my apartment and the estate agent has just telephoned to warn that the purchasers are switching property lawyer. I am told that this is due to the fact that Stafford Railway Building Society will only deal with property lawyers on their conveyancing panel. Why would a big named mortgage company only deal with specific lawyers?
Lenders have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Nationwide , have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks point to the increase in fraud by way of justification 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 hearing daily from firms 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.
My solicitor has discovered a difference between the information in Stafford Railway Building Society’s valuation survey and what is in the title deeds. My lawyer informs me that as he is on the Stafford Railway Building Society conveyancing panel he is duty bound to ensure that the bank is with this discrepancy and is content go ahead. Is my lawyer’s approach right?
A precondition to being on the Stafford Railway Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Stafford Railway 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.
I see that you have a search directory identifying solicitors on the Stafford Railway Building Society conveyancing panel. Do firms pay you a commission if I appoint them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Stafford Railway Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
We're in Liverpool, FTBs purchasing with a mortgage (lender is Stafford Railway Building Society , but our lawyer is on the Stafford Railway Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Stafford Railway Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
I have today made my last payment due on mortgage with Stafford Railway Building Society. I assume I don't need a solicitor on the Stafford Railway Building Society panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Stafford Railway Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Stafford Railway Building Society mortgage from the register. Stafford Railway Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Stafford Railway Building Society has sent the Land Registry the discharge electronically, and
the Stafford Railway Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Stafford Railway Building Society mortgage has been paid off.
I have decided to exercise my right to buy my property off the council. I have a mortgage offer with Stafford Railway Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Stafford Railway Building Society you will need to appoint a solicitor on the Stafford Railway Building Society conveyancing panel.
My offer on house has been accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What do I do now? At what point should I appy for the mortgage with Stafford Railway 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 Stafford Railway 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 Stafford Railway Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.