Find an Approved Solicitor on the Harpenden Building Society
FAQs for the Harpenden Building Society Solicitor Panel
I am in the process of selling my maisonette and the estate agent has just telephoned to say that the buyers are appointing a new solicitor. I am told that this is due to the fact that Harpenden Building Society will only deal with solicitors on their conveyancing panel. On what basis would a leading lender only engage with specific solicitors?
UK lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lenders blame a rise in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
We are nearing an exchange and my parents 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 disclose this to my lender Harpenden Building Society. Apparently, being on the Harpenden Building Society conveyancing panel and acting on their behalf he must inform Harpenden Building Society if the balance of the mortgage advance is not just from me. I informed the bank about my parent’s contribution when I applied for the home loan so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Harpenden 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 Harpenden Building Society if you agree, failing which, your lawyer must cease to continue acting.
Do I need to have a meeting at the offices of the Harpenden Building Society conveyancing panel solicitor to sign the mortgage deed? If so, I will choose one who does 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
We're in Liverpool, First time buyers buying with a mortgage (lender is Harpenden Building Society , but our lawyer is on the Harpenden Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Harpenden Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Do conveyancing lawyers on the Harpenden Building Society conveyancing panel work on a no move no charge basis?
In the main there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
The mortgage over my property is with Harpenden Building Society. Conveyancing has been completed a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Harpenden Building Society?
Harpenden Building Society must be informed of your intention in advance of renting your property as this is likely to be a breach of Harpenden Building Society’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Harpenden Building Society directly. It should not be necessary to do this via a Harpenden Building Society conveyancing panel lawyer.
Intending to buy a flat with a mortgage with Harpenden Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Harpenden Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Harpenden Building Society conveyancing panel