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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
Examples of recent questions relating to the Cambridge Building Society Conveyancing Panel
On what basis would a law firm 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 :
- Low volume of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Cambridge Building Society
I am buying a newly built duplex and my lawyer is telling me that she has to disclose incentives from the builder as her practice is on the Cambridge Building Society conveyancing panel. I am under pressure to exchange contracts and my preference is not to prolong matters. Is my lawyer right?
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.
Your search tool is useful but there are many lawyers listed near Hackney on the Cambridge Building Society conveyancing panel. Can you recommend a specific firm on the conveyancing panel for Cambridge Building Society ?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
The solicitors that I recently instructed on my purchase in Newcastle has suddenly closed. I only went with them because I needed a solicitor on the Cambridge Building Society conveyancing panel and my family lawyer was not. I gave them a cheque for £150 in advance. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Cambridge Building Society conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help
Is there a list of Cambridge Building Society panel conveyancers on the Building Society Association’s 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.
Can I be sure that the solicitor on the Cambridge Building Society panel is any good?
obtaining recommendations is a good starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor handling your transaction
I recently had an offer accepted on an apartment. My mortgage broker suggested a solicitor I paid an upfront payment of 175. Soon after the conveyancers contacted me to say that they were not on the Cambridge Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Cambridge Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.