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approved by Cambridge BS
Ready to buy a new home? Failing to check that a lawyer is on the Cambridge BS list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?Is my firm on the Cambridge Building Society Conveyancing Panel? How does my firm apply to be on the Cambridge Building Society Conveyancing Panel? How can my firm be reinstated onto the Cambridge Building Society Conveyancing Panel?
Find an Approved Solicitor on the Cambridge Building Society Conveyancing Panel
FAQs for the Cambridge Building Society Conveyancing Panel
My mortgage broker has says he needs my solicitor’s panel reference for the Cambridge Building Society conveyancing panel. What is the best way to discover this. I have tried my local Cambridge Building Society office but they don't know it.
Have you tried speaking to your lawyer about this?. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Cambridge Building Society.
Expecting to move into my new home next Monday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for Cambridge Building Society. What does the insurance need to cover?
All property lawyers on the Cambridge Building Society conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Cambridge Building Society’s Part 2 requirements of the CML Handbook (last updated on Cambridge Building Society). Being on the Cambridge Building Society conveyancing panel your lawyer is expect to follow these instructions.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Cambridge Building Society conveyancing panel. My lawyer has said that they are on the Cambridge 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 Cambridge 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 Cambridge Building Society solicitor panel.
I am considering applying for a Cambridge Building Society mortgage for purchase of a new build (under development) with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Cambridge Building Society?
In theory, you could use a solicitor that is not on Cambridge Building Society conveyancing panel, but Cambridge Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Is there a list of Cambridge Building Society panel conveyancers on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
Why might a lender such as Cambridge Building Society withdraw a mortgage offer?
Lenders such as Cambridge Building Society can revoke their mortgage offer although this rarely happens. should Cambridge Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are 5 examples:
- Many mortgage offers have an expiry date. Your lawyer should check this. Cambridge Building Society may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
- Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Cambridge Building Society conveyancing panel solicitors would be obliged to notify Cambridge Building Society of a change in the price of the property.
- Following advice from the property assessor on their lender panel or If the lender has doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion
- Where the lender has to take account a recent change in law
- If the solicitor on the Cambridge Building Society conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Cambridge Building Society ‘s instructions
I currently have a mortgage with with Cambridge Building Society. Conveyancing has been completed months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Cambridge Building Society?
Cambridge Building Society must be informed of your intention in advance of letting out your property as this is likely to be a breach of Cambridge Building Society’s mortgage conditions. It may be that Cambridge Building Society will permit you to let 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 Cambridge Building Society directly. It should not be necessary to do this via a Cambridge Building Society conveyancing panel lawyer.