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approved by Family BS
Ready to buy a new home? Failing to check that a lawyer is on the Family BS list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Family Building Society Conveyancing Panel
Q and A’s regarding the Family Building Society Conveyancing Panel
For what reasons would a firm of solicitors be removed from the Family Building Society approved conveyancing 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 most common 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 Family Building Society
Our lawyer has discovered a defect with the lease for the apartment we are purchasing. The seller’s lawyers have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer has advised that as he is on the Family Building Society conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or Family Building Society?
Just because you have a mortgage offer from Family Building Society does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Family Building Society are the client. The appropriate lender requirements must be adhered to by the Family Building Society conveyancing panel who has to balance acting for you and Family Building Society
What tools are available to search for a local solicitor on the Family Building Society conveyancing panel? I have a car and am prepared to travel up to 20 kilometers to meet the lawyer.
Feel free to make use of the find a conveyancing panel search on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Family Building Society solicitor panel.
I am trying to get my ex-wife taken off the mortgage deeds. Can Family Building Society really tell me which solicitor I can or can not use?
You can use any solicitor you like but Family Building Society then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Family Building Society solicitors panel
I have decided to exercise my right to buy my property off the council. I have a mortgage offer with Family Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Family Building Society you will need to appoint a solicitor on the Family Building Society conveyancing panel.
The mortgage over my property is with Family Building Society. Conveyancing was finalised months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Family Building Society?
You must advise Family Building Society prior to letting out your property as this is likely to be a breach of Family Building Society’s mortgage conditions. It may be that Family 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 Family Building Society directly. You need not do this via a Family Building Society conveyancing panel lawyer.
Intending to buy a house with a mortgage with Family Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Family Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Family Building Society conveyancing panel