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Family Building Society Solicitor Panel Recently Asked Questions
Am I correct in assuming that the fact that my conveyancer is not isted on the Family Building Society Solicitor panel that there is a problem with the standard of her conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Family Building Society.
Our god-son is about to exchange on a new build apartment with a home loan from Family Building Society. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Family Building Society conveyancing panel as a standard part of the process, and to the surveyor when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Family Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Your search tool is useful but there are many lawyers listed near London on the Family Building Society conveyancing panel. Can you recommend a specific firm on the Family Building Society approved panel?
We do not recommend specific firms 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. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I am considering applying for a Family 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 Family Building Society?
There is nothing to stop you using your solicitor but Family 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.
is it true that all solicitor firms on the Family Building Society conveyancing panel overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Family Building Society conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I had instructed online solicitors based in Birmingham who are on the Family Building Society solicitor panel. They are now charging me a separate fee of £135 for dealing with the Family Building Society mortgage. Is this a supplemental conveyancing fee set by Family Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Family Building Society but by your lawyers. Some firms on the Family Building Society will charge an ‘acting for lender’ fee and others do not.
I am selling my flat. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Family Building Society are being difficult. The solicitor who is on the Family Building Society conveyancing panel is saying indemnity insurance will be fine but Family Building Society are requiring a building regulation certificate. Why do Family Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Family Building Society have referred the matter to their valuer. The reason why Family Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.