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Ready to buy a new home? Failing to check that a lawyer is on the Beverley 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 Beverley Building Society Conveyancing Panel? How can my firm be reinstated onto the Beverley Building Society Conveyancing Panel?Find an Approved Solicitor on the Beverley Building Society Conveyancing Panel
FAQs : The Beverley Building Society Solicitor Panel
Is the fact that my solicitor is not identified on the Beverley Building Society Conveyancing panel that there is a problem with the standard of his conveyancing?
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 Beverley Building Society.
Our solicitor has discovered a defect with the lease for the property we are buying. The other side have put forward title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that as he is on the Beverley Building Society conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is Beverley Building Society?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Beverley Building Society are the client. A precondition to being on the Beverley Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Beverley Building Society). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Beverley Building Society can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . 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.
What tools are available to find a local solicitor on the Beverley Building Society conveyancing panel? I have a car and am prepared to travel up to 25 miles to meet the lawyer.
You can use the find a conveyancing panel tool on this website. 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 Beverley Building Society solicitor panel.
Please explain the implications if my solicitor is suspended from the Beverley Building Society Solicitor panel in advance of the completion date?
The first thing to point out is that, this is a very rare occurrence. 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.
I had instructed online solicitors based in Cardiff who are on the Beverley Building Society solicitor panel. They are now charging me a separate fee of £195 for dealing with the Beverley Building Society mortgage. Is this a supplemental conveyancing fee set by Beverley 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 Beverley Building Society but by your lawyers. Some firms on the Beverley Building Society will charge an ‘acting for lender’ fee and others do not.
We were going to get a DIP from Beverley Building Society this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Beverley Building Society recommend a solicitor on the Beverley Building Society conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Beverley Building Society conveyancing panel. The solicitor represents both you and the Beverley Building Society through the process.
I am selling my flat. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Beverley Building Society are being pedantic. The solicitor who is on the Beverley Building Society conveyancing panel is saying indemnity insurance will be fine but Beverley Building Society are requiring a building regulation certificate. Why do Beverley Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Beverley Building Society have referred the matter to their valuer. The reason why Beverley 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.