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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

FAQs : The Furness Building Society Solicitor Panel

Am I correct in assuming that the fact that my conveyancer is not isted on the Furness Building Society Conveyancing panel that there is a problem with the quality of his 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 most common reasons for removal are: (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.
Expecting to complete my purchase next Friday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for Furness Building Society. What does the insurance need to cover?
Any lawyer on the Furness Building Society conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Furness Building Society’s Part 2 requirements of the CML Handbook (last updated on Furness Building Society). Being on the Furness Building Society conveyancing panel your lawyer is expect to follow these requirements.
Do all the firms listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Furness Building Society solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
My solicitors in Manchester 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 prescribed period?
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.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Furness Building Society conveyancing panel?
Some major lenders now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
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.
I have decided to exercise my right to buy my property off the council. I have a mortgage offer with Furness 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 use 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 Furness Building Society you will need to appoint a solicitor on the Furness Building Society conveyancing panel.