Find an Approved Solicitor on the Coventry Building Society
Q and A’s regarding the Coventry Building Society Solicitor Panel
For what reasons could a firm of solicitors be excluded from the Coventry Building Society solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been removed from a lender panel. The most common reasons in order are :
- lack 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 Coventry Building Society
I am due to complete my purchase next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for Coventry Building Society. What does the insurance need to cover?
All property lawyers on the Coventry Building Society conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Coventry Building Society’s Part 2 requirements of the CML Handbook (last updated on Coventry Building Society). Being on the Coventry Building Society conveyancing panel your lawyer is expect to follow these requirements.
How up to date is your search tool for the Coventry Building Society conveyancing panel? Do Coventry Building Society send you an updated list?
The firms themselves provide us confirmation that they are on the Coventry Building Society conveyancing panel as opposed to being supplied with a list from Coventry Building Society directly.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Coventry Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Coventry Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
My brother and I have had an offer accepted on a apartment I spoke to a solicitor previously used by my mum and he recommended retaining a law firm approved by Coventry Building Society. The estate agent recommended two local firms so I asked Coventry Building Society if the 2 suggested solicitors are approved, which they are not. Coventry Building Society suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Coventry Building Society 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Coventry Building Society for conveyancing panel firms in your area. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Coventry Building Society conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Coventry Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Coventry Building Society’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
I'm spending time looking at houses and now considering a potential offer. Is it best to have a conveyancer on ‘stand by’? I will be getting a home loan with Coventry Building Society
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Coventry Building Society , make sure you remember to check that your lawyer is on the Coventry Building Society conveyancing panel.
I have today made my last payment due on mortgage with Coventry Building Society. I assume I don't need a solicitor on the Coventry Building Society panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Coventry Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry Building Society mortgage from the register. Coventry Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Coventry Building Society has sent the Land Registry the discharge electronically, and
the Coventry Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Coventry Building Society mortgage has been paid off.
Transfer of Equity for Coventry Building Society
Please note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors