Find an Approved Solicitor on the Hanley Economic Building Society
Common questions asked concerning the Hanley Economic Building Society Conveyancing Panel
My partner and I are first time buyers. Within the last couple of days our lawyer has forwarded the sale agreement to sign with a detailed report with the expectation that exchange is imminent. Hanley Economic Building Society have this evening contacted us to inform me that they have now hit a problem as our conveyancer is not on their approved list of lawyers. Is this a problem?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme.
Your solicitors should contact Hanley Economic Building Society and see if they can apply for membership of the Hanley Economic Building Society conveyancing panel, but if that is not viable Hanley Economic Building Society will instruct their own solicitors to act. You don't have to instruct a firm on the Hanley Economic Building Society conveyancing panel and you may continue to use your own solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
We are approaching an exchange and my mum and dad having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Hanley Economic Building Society. I am advised that, being on the Hanley Economic Building Society conveyancing panel and acting on their behalf he must inform Hanley Economic Building Society if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Hanley Economic Building Society to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Hanley Economic Building Society if you agree, failing which, your lawyer must cease to continue acting.
I am planning to acquire a flat and require a conveyancing solicitor in Manchester who is on the Hanley Economic Building Society approved. Can you recommend a local conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Hanley Economic Building Society . We don’t recommend any particular firm.
My aunt passed away last year and as sole heir and executor was left the property. The house had a small mortgage remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Hanley Economic Building Society , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Hanley Economic Building Society will insist on your using a conveyancer on the Hanley Economic Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Hanley Economic Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Hanley Economic Building Society mortgage is registered as a charge at the Land Registry.
Are all Conveyancing Quality Solicitors on the Hanley Economic Building Society conveyancing panel?
It is true that some lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
Can you point me to a directory of Hanley Economic Building Society panel solicitors on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
I have paid off my mortgage with Hanley Economic Building Society. I assume I don't need a solicitor on the Hanley Economic Building Society panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Hanley Economic 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 Hanley Economic Building Society mortgage from the register. Hanley Economic 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 Hanley Economic Building Society has sent the Land Registry the discharge electronically, and
the Hanley Economic Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Hanley Economic Building Society mortgage has been paid off.