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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.
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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
Common questions asked concerning the Cambridge Building Society Conveyancing Panel
I need to swap lawyers as my lawyer is not on the Cambridge Building Society panel of conveyancing solicitors. Is it practical to instruct different lawyers?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
I am buying a newly built flat and my solicitor is advising me that she is duty bound to reveal incentives from the builder as her firm is on the Cambridge Building Society conveyancing panel. I am nearing the developer’s deadline to sign contracts and I have no desire to prolong matters. Can I insist on an exchange regardless of what my lawyer says about being on the Cambridge Building Society panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Cambridge Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Cambridge Building Society). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I have checked 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.
My grandfather passed away 10 months ago and as sole heir and executor was left the house. The house had a small mortgage remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Cambridge Building Society , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Cambridge Building Society will insist on your using a conveyancer on the Cambridge 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 Cambridge 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 Cambridge Building Society mortgage is registered as a charge at the Land Registry.
is it true that all solicitor practices on the Cambridge Building Society conveyancing panel overseen by the SRA?
As solicitors, in order to be on the Cambridge Building Society conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I previously instructed online solicitors located in London who are on the Cambridge Building Society solicitor panel. They have just invoiced me a separate fee of £150 for the legal aspects of the Cambridge Building Society mortgage. Is this an additional conveyancing fee specified by Cambridge 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 Cambridge Building Society but by your lawyers. Some firms on the Cambridge Building Society will charge an ‘acting for lender’ fee and others do not.
My offer was accepted on a house on the 7th January 2014, valuation was booked five days after, all came back fine. Property lawyer instructed, so all that was missing was my mortgage offer. Having made daily calls to Cambridge Building Society and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Cambridge Building Society conveyancing panel. Are Cambridge Building Society entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Cambridge Building Society to deal with your lawyers application to be on the Cambridge Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.