Find an Approved Solicitor on the Ipswich Building Society
Common questions asked concerning the Ipswich Building Society Solicitor Panel
My fiance and I are novices when it comes to buying a property. Within the last couple of days our solicitor has forwarded the sale agreement to sign with a detailed report with the expectation that exchange is imminent. Ipswich Building Society have this afternoon contacted us to advise us that there is now an issue as our conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit 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 Quality Scheme.
Your property lawyers should contact Ipswich Building Society and see if they can apply for membership of the Ipswich Building Society conveyancing panel, but if that is not viable Ipswich Building Society will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the Ipswich Building Society conveyancing panel and you may continue to use your own solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Can you help?. My lawyer is not to blame but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Ipswich Building Society was issued random date and we have agreed a date for me to move into the property on Tues etc. My lawyer has advised that as she is on the Ipswich Building Society conveyancing panel she needs to reorder the searches as they are no longer valid.
One of the many conditions to being on the Ipswich Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Ipswich Building Society)which specifies that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Ipswich Building Society.
Do all the firms listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Ipswich Building Society conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I am buying a terraced house and getting a mortgage with Ipswich Building Society. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Ipswich 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 Ipswich Building Society conveyancing panel in your location.
Are all Conveyancing Quality Solicitors on the Ipswich Building Society conveyancing panel?
Some major banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation 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.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Ipswich Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Ipswich Building Society your lawyer must to check the Ipswich Building Society conveyancing instructions contained in the Part of CML Handbook for Ipswich Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Ipswich Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
Can I register a complaint to Ipswich Building Society about the lawyers being on the Ipswich Building Society conveyancing panel?
There is little point in complaining directly to Ipswich Building Society. All solicitors and conveyancer must have a complaints procedure. Usually one can find this information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.