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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.

Find an Approved Solicitor on the Cambridge Building Society Conveyancing Panel

FAQs : The Cambridge Building Society Solicitor Panel

For what reasons would a firm of solicitors be excluded from the Cambridge Building Society approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been removed from a lender panel. The most common reasons in order are :
  1. Low volume of transactions
  2. the lawyer is a sole practitioner
  3. as part of the HSBC panel reduction
  4. regulatory contact by SRA
  5. accidental removal. We are not aware of the specific or common criteria for removal by Cambridge Building Society
My god-son is in the process of securing a new build apartment with a home loan from Cambridge Building Society. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Cambridge Building Society conveyancing panel as a standard part of the process, and to the valuer when asked.

The Developer will be required to start the process by downloading the form and completing it.

The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Cambridge Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

Do banks and building societies provide you with an approved list of solicitors? How do you know who is on the Cambridge Building Society conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the Cambridge Building Society conveyancing panel as opposed to being supplied with a list from Cambridge Building Society directly.
My conveyancers in Newcastle have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with Cambridge Building Society. Is it case that being on the Cambridge Building Society conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Cambridge Building Society Conveyancing Panel Terms. It might be worth you contacting Cambridge Building Society directly.
When it comes to mortgage companies such as Cambridge Building Society do lawyers have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Is there a list of Cambridge Building Society panel conveyancers on the CML Handbook 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.
I have instructed a lawyer having checked that they are on the Cambridge Building Society conveyancing panel. Does my lawyer arrange the survey of the property? Or Having read lots of house buying,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Cambridge Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Cambridge Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Cambridge Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Cambridge Building Society you could contact your them to see if they have a list of approved surveyors.