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approved by Cumberland BS
Ready to buy a new home? Failing to check that a lawyer is on the Cumberland 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 Cumberland Building Society Conveyancing Panel? How can my firm be reinstated onto the Cumberland Building Society Conveyancing Panel?
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Frequently asked questions relating to the Cumberland Building Society Solicitor Panel
I am getting a mortgage offer from Cumberland Building Society. I intend to enlist the help of a Licensed Conveyancer. Does the Cumberland Building Society Solicitor panel allow for Licensed Conveyancers
Cumberland Building Society’s conveyancing panel is, like many other lenders associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
Our property lawyer is asking me for ID documents asserting that this is part of his obligations as a solicitor on the Cumberland Building Society Conveyancing panel. This is news to me - can I refuse?
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 Cumberland Building Society your lawyer also has to check ID documents to satisfy Cumberland Building Society
Do I have to visit the offices of the Cumberland Building Society conveyancing panel solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in London so that I can attend their offices if necessary.
Whereas this was necessary twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in London .
My uncle passed away last year and as sole heir and executor was left the property. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Cumberland Building Society , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Cumberland Building Society will insist on your using a conveyancer on the Cumberland 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 Cumberland 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 Cumberland Building Society mortgage is registered as a charge at the Land Registry.
We have a mortgage agreed in principle with Cumberland Building Society. Solicitors have been chosen? What is the average time that one could expect to receive a mortgage offer from Cumberland Building Society?
There is no definitive answer here. Have Cumberland Building Society completed the valuation? Have you advised Cumberland Building Society as your lawyers details and checked that your lawyer is on the Cumberland Building Society conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
I have a mortgage with Cumberland Building Society. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Cumberland Building Society?
You must advise Cumberland Building Society before renting your property as this is likely to be a breach of Cumberland Building Society’s mortgage conditions. It may be that Cumberland Building Society will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Cumberland Building Society directly. It should not be necessary to do this via a Cumberland Building Society conveyancing panel lawyer.
I have instructed a lawyer having checked that they are on the Cumberland 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 Cumberland Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Cumberland Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Cumberland 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 Cumberland Building Society you could contact your them to see if they have a list of approved surveyors.