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approved by Dudley Building Society
Ready to buy a new home? Failing to check that a lawyer is on the Dudley Building Society list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Dudley Building Society Conveyancing Panel
Q and A’s regarding the Dudley Building Society Solicitor Panel
Can you please explain the reason why all solicitors are not on the Dudley Building Society Solicitor panel?
Even though it may seem unfair for Dudley Building Society to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern Dudley Building Society are limiting their conveyancing panel to a size that they are happy to control. The Dudley Building Society solicitor panel is not the smallest
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Dudley Building Society will not agree to this. Why was Dudley Building Society even consulted?
Your lawyer being on the Dudley Building Society conveyancing panel is duty bound to inform Dudley Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Dudley Building Society then they would have to discontinue acting for you and Dudley Building Society.
Do I have to pop into the offices of the Dudley Building Society conveyancing panel solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Bristol
so that I can pop in to their offices if required.
Most conveyancing panel lawyers for Dudley Building Society undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
I am considering applying for a Dudley Building Society mortgage for purchase of a newly converted (under development) with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Dudley Building Society?
In theory, you could use a solicitor that is not on Dudley Building Society conveyancing panel, but Dudley Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Can I be sure that the solicitor on the Dudley 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 lawyer conducting your transaction
I currently have a mortgage with with Dudley 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 Dudley Building Society?
You must advise Dudley Building Society before letting out your property as this is likely to be a breach of Dudley Building Society’s mortgage conditions. It may be that Dudley 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 Dudley Building Society directly. You need not do this via a Dudley Building Society conveyancing panel lawyer.
It is not clear whether my mortgage offer requires a lease extension . I have called Dudley Building Society on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Dudley Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Dudley Building Society panel she or he must comply with the CML Handbook requirements for Dudley Building Society. Unless your lawyer obtains specific confirmation in writing that Dudley Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Dudley Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.