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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?
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Examples of recent questions relating to the Cambridge Building Society Conveyancing Panel
How easy is it to change a solicitor as I need to find one who is on the Cambridge Building Society conveyancing panel. How easy is it to change conveyancer?
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.
My solicitor has uncovered an inconsistency between the surveyor’s assumptions in Cambridge Building Society’s home valuation survey and what is revealed within the title deeds. My lawyer has advised that as he is on the Cambridge Building Society conveyancing panel he must check that the lender is with this discrepancy and is content go ahead. Is my lawyer’s approach appropriate?
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) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. 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.
I have been looking for conveyancing quotes online. Can I be assured that all the law firms that are identified on your directory are on the Cambridge Building Society conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have advised us that they are on the Cambridge Building Society panel and agreed to advise us to take down their listing in the event of removal off of the Cambridge Building Society panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Cambridge Building Society conveyancing panel is not accurate.
Can you clarify what the consequences are if my solicitor is suspended from the Cambridge Building Society Solicitor panel before the moving date as agreed at exchange of contracts?
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 at a cost.
I have a mortgage with Cambridge Building Society. My grandfather has just retired and wants to pay off my mortgage. After Cambridge Building Society is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Cambridge Building Society conveyancing panel? I do not intend to live at the property once the Cambridge Building Society mortgage is discharged.
Although you do need to retain the services of a lawyer they dont need to be on the Cambridge Building Society panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. As the property is your main residence you need not pay CGT but you should speak with your accountants in any event.
I am currently in the process of buying my council flat. I have a mortgage offer with Cambridge Building Society. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Cambridge Building Society you will need to appoint a solicitor on the Cambridge Building Society conveyancing panel.
Intending to buy a flat with a mortgage with Cambridge Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Cambridge Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Cambridge Building Society conveyancing panel