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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.
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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?Find an Approved Solicitor on the Leeds Building Society Conveyancing Panel
Common questions asked concerning the Leeds Building Society Solicitor Panel
I am getting a mortgage with Leeds Building Society. I would like to enlist the help of a Licensed Conveyancer. Does the Leeds Building Society Solicitor panel exclude conveyancers regulated by the CLC
Leeds Building Society’s approved solicitor list is, like many other lenders represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
We are getting closer to an exchange and my mum and dad having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Leeds Building Society. Apparently, being on the Leeds Building Society conveyancing panel and acting on their behalf he must inform Leeds Building Society if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Leeds 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 Leeds Building Society if you agree, failing which, your lawyer must cease to continue acting.
Do I have to have a meeting at the offices of the Leeds Building Society conveyancing panel solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Manchester
so that I can pop in to their offices if required.
Whereas this was necessary 12 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 Manchester
.
I am considering applying for a Leeds Building Society mortgage for purchase of a newly converted (under development) with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Leeds Building Society?
There is nothing to stop you using your solicitor but Leeds Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I had instructed online solicitors based in Bristol who are on the Leeds Building Society solicitor panel. They are now charging me a separate fee of £195 for dealing with the Leeds Building Society mortgage. Is this an additional conveyancing fee set by Leeds Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Leeds Building Society but by your lawyers. Some firms on the Leeds Building Society will charge an ‘acting for lender’ fee and others do not.
In what circumstances might Leeds Building Society amend or withdraw their mortgage offer?
Lenders such as Leeds Building Society can withdraw their mortgage offer although this rarely happens. If Leeds Building Society withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are various possible reasons but here are a number of examples:
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Where the sale is not at arms length for value to unconnected persons
- Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
- Where the Lender’s right to possession is fettered in some way
- If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
I have today made my last payment due on mortgage with Leeds Building Society. I assume I don't need a solicitor on the Leeds Building Society panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Leeds 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 Leeds Building Society mortgage from the register. Leeds 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 Leeds Building Society has sent the Land Registry the discharge electronically, and
the Leeds Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Leeds Building Society mortgage has been paid off.
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Transfer of Equity for Leeds Building SocietyPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors