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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
Frequently asked questions relating to the Cambridge Building Society Solicitor Panel
My financial adviser has asked me for my solicitor’s panel member for the Cambridge Building Society conveyancing panel. How do I discover this. I have tried my local Cambridge Building Society office but they have not got back to me yet.
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.
My wife and I changing mortgage lender for our penthouse with Cambridge Building Society. We have a son 19 who lives with us. The solicitor on the Cambridge Building Society conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Cambridge Building Society conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Cambridge Building Society .This is solely used to protect the Cambridge Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Cambridge Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I note that you have a search directory identifying firms on the Cambridge Building Society conveyancing panel. Do firms pay you a commission if I appoint them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Cambridge Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I was expecting to move into my first house two days ago. My solicitor is on the Cambridge Building Society solicitors panel but has changed address 8 weeks ago and had not advised Cambridge Building Society of their new address. Cambridge Building Society is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Cambridge Building Society branch or your mortgage broker to see if they can help.
Do most banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Cambridge Building Society conveyancing panel requirements are different to Cambridge Building Society’s conveyancing panel criteria.
We expect to receive a DIP from Cambridge Building Society this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Cambridge Building Society recommend a solicitor on the Cambridge Building Society conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Cambridge Building Society conveyancing panel. The solicitor represents both you and the Cambridge Building Society through the process.
My offer was accepted on an apartment on the 7th February 2014, valuation was booked 4 days after, all came back fine. Conveyancer 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 a mortgage 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.