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Ready to buy a new home? Failing to check that a lawyer is on the Bath 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 Bath Building Society Conveyancing Panel? How can my firm be reinstated onto the Bath Building Society Conveyancing Panel?Find an Approved Solicitor on the Bath Building Society Dual Representation Solicitors
Bath Building Society does not operate a Conveyancing Panel, but does allow certain lawyers to conduct dual representation subject to meeting their criteria.
For the purposes of clarification, references on this page to "conveyancing panel" mean the ability of your lawyer represent both you and Bath Building Society in their capacity as lender.
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I am in the process of selling my maisonette and the EA has just e-mailed to warn that the purchasers are changing their solicitor. The reason given is that Bath Building Society will only deal with solicitors on their approved list. On what basis would a leading lender only engage with certain lawyers?
Lenders have always had panels 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 15 years.
Banks 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 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.
Please assist. My lawyer is not to blame but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Bath Building Society was date stamped random date and we have agreed a date for me to move into the property on 10 days inc Day of week eg. Mon. My solicitor says that as she is on the Bath Building Society conveyancing panel she needs to redo the searches as they are now out of date.
One of the many conditions to being on the Bath Building Society approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Bath Building Society)which states that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Bath Building Society.
Do I need to attend the offices of the Bath Building Society conveyancing panel solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Newcastle
so that I can pop in to their offices if required.
Whereas this was necessary ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Newcastle
.
My aunt passed away six months ago and as sole heir and executor was left the house. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Bath Building Society , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Bath Building Society will insist on your using a conveyancer on the Bath 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 Bath 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 Bath Building Society mortgage is registered as a charge at the Land Registry.
I previously instructed online solicitors based in London who are on the Bath Building Society solicitor panel. They have just invoiced me a separate fee of £135 for the legal aspects of the Bath Building Society mortgage. Is this a supplemental conveyancing fee set by Bath Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Bath Building Society but by your lawyers. Some firms on the Bath Building Society will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
Completion of my purchase has taken place with a mortgage from Bath Building Society. Conveyancing was satisfactory but I would like to complain about Bath Building Society. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the Bath Building Society branches or the Customer Services Team at Bath Building Society head office. In most cases complaints to Bath Building Society are sorted out effectively and efficiently. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Bath Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Bath Building Society or your broker and complete any relevant paperwork. Bath Building Society will tell you what documents they want. Bath Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Bath Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
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