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approved by Furness BS

Ready to buy a new home? Failing to check that a lawyer is on the Furness BS list of approved solicitors can put your transaction at risk of delay or failure.

Find an Approved Solicitor on the Furness Building Society Conveyancing Panel

Common questions asked concerning the Furness Building Society Conveyancing Panel

I am in the process of selling my apartment and the EA has just telephoned to say that the purchasers are switching property lawyer. The reason given is that Furness Building Society will only deal with property lawyers on their approved list. On what basis would a big named lender only engage with certain lawyers?
Banks have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.

Lenders point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.

Our lawyer has discovered a problem with the lease for the flat we are buying. The seller’s lawyers have offered defective title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer says that as he is on the Furness Building Society conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is Furness Building Society?
Just because you have a mortgage offer from Furness 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 Furness Building Society are the client. The appropriate lender requirements must be adhered to by the Furness Building Society conveyancing panel who has to balance acting for you and Furness Building Society
I need to find a Furness Building Society panel solicitor in Stirling. Can you assist?
Unfortunately it’s not apparent why you need a Furness Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Furness Building Society to find out which solicitors in Furness Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
My conveyancers in London have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with Furness Building Society. Is it case that being on the Furness Building Society conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Furness Building Society Conveyancing Panel Terms. It might be worth you contacting Furness Building Society directly.
When it comes to lenders such as Furness Building Society do lawyers have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I have today made my last payment due on mortgage with Furness Building Society. I assume I don't need a solicitor on the Furness Building Society panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Furness Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Furness Building Society mortgage from the register. Furness Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage: but are not moving to another property where the Furness Building Society has sent the Land Registry the discharge electronically, and the Furness Building Society has instructed the Land Registry to do so The Land Registry will send you a letter confirming that your Furness Building Society mortgage has been paid off.
My ex -wife’s name is on the Furness Building Society mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Furness Building Society mortgage in order to sell?
In terms of the Furness Building Society mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Furness Building Society in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.