Find a Law Firm
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.
Looking for information about your firm's panel status?
How does my firm apply to be on the Furness Building Society Conveyancing Panel? How can my firm be reinstated onto the Furness Building Society Conveyancing Panel?Find an Approved Solicitor on the Furness Building Society Conveyancing Panel
FAQs for the Furness Building Society Conveyancing Panel
Am I correct in assuming that the fact that my conveyancer is not on the Furness Building Society Conveyancing panel that there is a problem with the quality of the firm’s work?
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 Furness Building Society.
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 Furness Building Society will not agree to this. Why was Furness Building Society even consulted?
Your lawyer being on the Furness Building Society conveyancing panel is duty bound to inform Furness Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Furness Building Society then they would have to discontinue acting for you and Furness Building Society.
Is it necessary during the course of the conveyancing process to pop into the offices of the Furness Building Society conveyancing panel solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Liverpool
so that I can attend their offices if required.
As opposed to 15 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 Liverpool
.
The solicitors that I recently instructed on my purchase in Newcastle has suddenly closed. They were on acting for me because I needed a firm on the Furness Building Society conveyancing panel and my family lawyer was not. I gave them a cheque for £150 in advance. What are my options?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Furness Building Society conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help
When it comes to mortgage companies such as Furness Building Society do solicitors have to be pay a fee to be on the conveyancing panel?
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.
We are getting a further advance on our mortgage from Furness Building Society as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Furness Building Society conveyancing panel to deal with the legals?
Furness Building Society do not ordinarily appoint a member of their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Furness Building Society panel
Furness Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Furness Building Society or your broker and complete any relevant paperwork. Furness Building Society will tell you what documents they want. Furness Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Furness Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.