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approved by Coventry BS
Ready to buy a new home? Failing to check that a lawyer is on the Coventry 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 Coventry Building Society Conveyancing Panel? How does my firm apply to be on the Coventry Building Society Conveyancing Panel? How can my firm be reinstated onto the Coventry Building Society Conveyancing Panel?
Find an Approved Solicitor on the Coventry Building Society Conveyancing Panel
FAQs for the Coventry Building Society Conveyancing Panel
On what basis would 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 top 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 Coventry Building Society
We are getting closer to an exchange and my mum and dad having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Coventry Building Society. I am advised that, being on the Coventry Building Society conveyancing panel and acting on their behalf he must inform Coventry Building Society if the balance of the mortgage advance is not just from me. I disclosed to the bank about my parent’s contribution when I applied for the home loan so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Coventry Building Society to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Coventry Building Society if you agree, failing which, your lawyer must cease to continue acting.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Coventry Building Society conveyancing panel. My lawyer has said that they are on the Coventry Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Coventry Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Coventry Building Society solicitor panel.
I am considering applying for a Coventry Building Society mortgage for purchase of a newly converted (under development) with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Coventry Building Society?
There is nothing to stop you using your solicitor but Coventry Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Do the majority of 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 Coventry Building Society conveyancing panel requirements are different to Coventry Building Society’s conveyancing panel criteria.
We expect to receive a DIP from Coventry Building Society this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Coventry Building Society recommend a solicitor on the Coventry Building Society conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Coventry Building Society conveyancing panel. The solicitor represents both you and the Coventry Building Society through the process.
Coventry Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Coventry Building Society or your broker and complete any relevant paperwork. Coventry Building Society will tell you what documents they want. Coventry Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Coventry Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.