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approved by Leeds Building Society
Ready to buy a new home? Failing to check that a lawyer is on the Leeds 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 Leeds Building Society Conveyancing Panel? How can my firm be reinstated onto the Leeds Building Society Conveyancing Panel?
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Leeds Building Society Conveyancing Panel : Questions and Answers
On what basis would a law firm be excluded from the Leeds Building Society solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been excluded from a lender panel. The most common 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 Leeds Building Society
Our solicitor has identified a problem with the lease for the flat we are buying. The seller’s lawyers have offered title insurance as a solution. We are content with insurance and will pay for it. Our lawyer says that as he is on the Leeds Building Society conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or Leeds Building Society?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Leeds Building Society are the client. A precondition to being on the Leeds Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Leeds Building Society). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Leeds 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.
Is it necessary during the course of the conveyancing process to visit the offices of the Leeds Building Society conveyancing panel solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Liverpool so that I can pop in to their offices if necessary.
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 Wales, First timers purchasing with a mortgage (lender is Leeds Building Society , but our lawyer is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Leeds 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
Are all conveyancing solicitors on the Leeds Building Society conveyancing panel overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Leeds Building Society conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
Two weeks ago we had a mortgage agreed in principle with Leeds Building Society. Solicitors have been appointed? How long does it take for Leeds Building Society to send the offer to our conveyancer
Some lenders take longer than others. Have Leeds Building Society conducted the survey? Have you advised Leeds Building Society as your lawyers details and checked that your lawyer is on the Leeds Building Society conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
The for formalities of my remortgage has taken place with a mortgage from Leeds Building Society. Conveyancing was of an acceptable standard but I would like to complain about Leeds Building Society. How do I make a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the Leeds Building Society branches or the Customer Care Team at Leeds Building Society head office. We understand that complaints to Leeds Building Society are resolved very quickly. If you feel that the matter is not resolved you can write to the Financial Ombudsman Service with full details of your complaint.