Find an Approved Solicitor on the Hanley Economic Building Society
Hanley Economic Building Society Conveyancing Panel Sample Enquires to our Call Center
For what reasons could a firm of solicitors be excluded from the Hanley Economic Building Society approved conveyancing panel?
According to a recent survey report by the solicitors regulator three quarters of solicitor practices had been excluded from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Hanley Economic Building Society
My partner and I changing mortgage lender for our apartment with Hanley Economic Building Society. We have a son 18 who lives with us. The solicitor on the Hanley Economic Building Society conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Hanley Economic Building Society conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Hanley Economic Building Society .This is solely used to protect the Hanley Economic Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Hanley Economic Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Are there any apps to help find a local solicitor on the Hanley Economic Building Society conveyancing panel? I have a car and am prepared to travel up to 20 miles to meet the conveyancer.
Feel free to make use of the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Hanley Economic Building Society solicitor panel.
I am purchasing a garden flat and getting a mortgage with Hanley Economic Building Society. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Hanley Economic Building Society conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Hanley Economic Building Society conveyancing panel in your location.
When it comes to mortgage companies such as Hanley Economic 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.
Why might a lender such as Hanley Economic Building Society withdraw a mortgage offer?
Banks and Building Societies such as Hanley Economic Building Society can revoke their mortgage offer although this is unusual. In the unlikely event that Hanley Economic Building Society withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are 5 examples:
Hanley Economic Building Society may amend or withdraw an offer if the Hanley Economic Building Society conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
If the solicitor on the Hanley Economic Building Society conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Hanley Economic Building Society ‘s instructions
I can not work out if my mortgage offer requires a lease extension . I have called Hanley Economic Building Society on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Hanley Economic Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Hanley Economic Building Society panel she or he must comply with the CML Handbook requirements for Hanley Economic Building Society. Unless your lawyer obtains specific confirmation in writing that Hanley Economic Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Hanley Economic Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.