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approved by Hanley Economic Building Society
Ready to buy a new home? Failing to check that a lawyer is on the Hanley Economic Building Society 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 Hanley Economic Building Society Conveyancing Panel? How can my firm be reinstated onto the Hanley Economic Building Society Conveyancing Panel?
Find an Approved Solicitor on the Hanley Economic Building Society Conveyancing Panel
Examples of recent questions relating to the Hanley Economic Building Society Solicitor Panel
Is the fact that my solicitor is not isted on the Hanley Economic Building Society Solicitor panel that there is a problem with the standard of her conveyancing?
It would not be wise to jump to that conclusion. 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 Hanley Economic Building Society.
Our solicitor has discovered a legal deficiency with the lease for the flat we are buying. The seller’s lawyers have offered defective title insurance as a solution. We are content with insurance and will pay for it. Our solicitor has advised that as he is on the Hanley Economic Building Society conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is Hanley Economic Building Society?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Hanley Economic Building Society are the client. A precondition to being on the Hanley Economic Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Hanley Economic Building Society). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Hanley Economic Building Society can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Your search tool is useful but there are many lawyers listed near Newcastle on the Hanley Economic Building Society conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Hanley Economic Building Society approved panel?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
Can you clarify what the consequences are if my lawyer’s firm is expelled from the Hanley Economic Building Society Solicitor panel before completion?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Can you point me to a directory of Hanley Economic Building Society panel solicitors on the CML Handbook 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 was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to move forward? I plan to obtain a mortgage with Hanley Economic Building Society. Is there anyway to cut out the solicitors to save on the costs? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Hanley Economic Building Society involved you will need to appoint a solicitor on the Hanley Economic Building Society conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Hanley Economic Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Hanley Economic Building Society conveyancing panel.
I have today made my last payment due on 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. Am I right?
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.