Find an Approved Solicitor on the Cambridge Building Society
Common questions asked concerning the Cambridge Building Society Solicitor Panel
I would like to know the reason why all property lawyers are not on the Cambridge Building Society Solicitor panel?
As unjust as it may seem for Cambridge Building Society to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern Cambridge Building Society have restricted their conveyancing panel to a manageable size. The Cambridge Building Society solicitor panel is not the smallest
Our solicitor has discovered a defect with the lease for the property we are buying. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer has advised that as he is on the Cambridge Building Society conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or Cambridge Building Society?
Just because you have a mortgage offer from Cambridge Building Society does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Cambridge Building Society are the client. The appropriate lender requirements must be adhered to by the Cambridge Building Society conveyancing panel who has to balance acting for you and Cambridge Building Society
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Cambridge Building Society solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I am selling my house. Does my solicitor have to be on the Cambridge Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Cambridge Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
My wife and I have arranged a further advance on our mortgage from Cambridge Building Society as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Cambridge Building Society conveyancing panel to deal with the paperwork?
Cambridge Building Society do not ordinarily instruct firms on their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Cambridge Building Society panel
It is not clear whether my mortgage offer requires a lease extension . I have called Cambridge Building Society on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Cambridge Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
As long as the conveyancer is on the Cambridge Building Society panel she or he must comply with the CML Handbook requirements for Cambridge Building Society. Unless your lawyer obtains specific confirmation in writing that Cambridge Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Cambridge Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
My ex -wife’s name is on the Cambridge Building Society mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Cambridge Building Society mortgage in order to sell?
In terms of the Cambridge Building Society mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Cambridge Building Society in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
Transfer of Equity for Cambridge Building Society
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