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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?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 Solicitor Panel
My fiance and I are purchasing a 2 bedroom flat in Newcastle with a mortgage from Coventry Building Society. We like our solicitor but Coventry Building Society says he's not on their "panel". It seems we have little choice but to instruct one of the Coventry Building Society panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Coventry Building Society use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Coventry Building Society conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Coventry Building Society
Much to my surprise my lawyer is asking me for identification documents asserting that this is part of his retainer as a solicitor on the Coventry Building Society Conveyancing panel. Is this right?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Coventry Building Society your lawyer also has to check ID documents to satisfy Coventry Building Society
Your search tool is useful but there are many lawyers listed near Manchester on the Coventry Building Society conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Coventry 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. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
My uncle passed away last year and as sole heir and executor was left the property. The house had a small mortgage left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Coventry Building Society , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Coventry Building Society will insist on your using a conveyancer on the Coventry Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Coventry Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Coventry Building Society mortgage is registered as a charge at the Land Registry.
Do conveyancing solicitors on the Coventry Building Society conveyancing panel work on a no sale no fee basis?
In the main there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
We are getting a further advance on our mortgage from Coventry Building Society as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Coventry Building Society conveyancing panel to deal with the paperwork?
Coventry Building Society would not normally instruct a member of their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Coventry Building Society panel
My existing mortgage is with Coventry Building Society. My father retired last week and wants to pay off my mortgage. After Coventry Building Society is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Coventry Building Society conveyancing panel? I do not intend to live at the property once the Coventry Building Society mortgage is discharged.
You will need a solicitor but they need not be on the Coventry Building Society conveyancing panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. As the property is your main residence you need not pay CGT but you should speak with your accountants in any event.