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approved by Dudley Building Society
Ready to buy a new home? Failing to check that a lawyer is on the Dudley Building Society 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 Dudley Building Society Conveyancing Panel? How can my firm be reinstated onto the Dudley Building Society Conveyancing Panel?Find an Approved Solicitor on the Dudley Building Society Conveyancing Panel
Frequently asked questions relating to the Dudley Building Society Solicitor Panel
I am selling my apartment and the estate agent has just texted me to warn that the buyers are changing their solicitor. I am told that this is due to the fact that Dudley Building Society will only engage with property lawyers on their conveyancing panel. Why would a big named lender only deal with certain law firms?
Banks have always had panels of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders blame a rise 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 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.
Please help. My lawyer is advising me that he has to order a Local Authority search because the firm are on the Dudley Building Society solicitor panel. Is my lawyer correct?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with Dudley 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 Dudley Building Society’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Dudley Building Society. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Dudley Building Society conveyancing panel. My lawyer has said that they are on the Dudley Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Dudley Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Dudley Building Society solicitor panel.
My aunt passed away last year and as sole heir and executor was left the house. The house had a relatively small loan remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Dudley Building Society , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Dudley Building Society will insist on your using a conveyancer on the Dudley Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Dudley Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Dudley Building Society mortgage is registered as a charge at the Land Registry.
Can I be sure that the solicitor on the Dudley Building Society panel is any good?
Getting recommendations is a sensible start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor carrying out your conveyancing
Why might a lender such as Dudley Building Society withdraw a mortgage offer?
Lenders such as Dudley Building Society can revoke their mortgage offer although this rarely happens. If Dudley Building Society withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are a few examples:
- Dudley Building Society may amend or withdraw an offer if the Dudley 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
- Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Dudley Building Society conveyancing panel solicitors would be obliged to notify Dudley Building Society of a change in the price of the property.
- If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
- 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
- If the solicitor on the Dudley Building Society conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Dudley Building Society ‘s instructions
I have a mortgage with Dudley Building Society. Conveyancing has been completed months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Dudley Building Society?
Dudley Building Society must be informed of your intention prior to letting out your property as this is likely to be a breach of Dudley Building Society’s mortgage conditions. It may be that Dudley Building Society will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Dudley Building Society directly. You need not do this via a Dudley Building Society conveyancing panel solicitor.