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Ready to buy a new home? Failing to check that a lawyer is on the list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Leek United Building Society Conveyancing Panel
Q and A’s regarding the Leek United BS Solicitor Panel
For what reasons could a firm of solicitors be removed from the Leek United BS approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been removed 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 Leek United BS
I am purchasing a newly built duplex and my lawyer is advising me that she is duty bound to disclose incentives from the developer as her firm is on the Leek United BS conveyancing panel. I am under pressure to exchange and I dont want to delay the conveyancing. Can I insist on an exchange regardless of what my lawyer says about being on the Leek United BS panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Leek United BS approved panel is to comply with the CML Handbook requirements (last updated for this lender on Leek United BS). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am searching for competitive conveyancing fees. Can I be assured that all the firms that are identified on your website are on the Leek United BS conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have advised us that they are on the Leek United BS panel and agreed to advise us to take down their listing in the event of removal off of the Leek United BS panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific firm being on the Leek United BS conveyancing panel is not accurate.
I was due to move into my flat two days ago. My lawyer’s firm is on the Leek United BS solicitors panel but has changed address in the past couple of months and had not advised Leek United BS of their new address. Leek United BS has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Leek United BS branch or your mortgage broker to see if they can help.
Can you point me to a directory of Leek United BS panel solicitors on the CML Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
My existing mortgage is with Leek United BS. My father has just retired and wants to pay off the mortgage left on the property. After Leek United BS is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Leek United BS conveyancing panel? I do not intend to live at the property once the Leek United BS mortgage is discharged.
You will need a solicitor but they need not be on the Leek United BS conveyancing panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. There's no capital gains tax for you as it is your main residence.
My ex -wife’s name is on the Leek United BS mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Leek United BS mortgage in order to sell?
In terms of the Leek United BS mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Leek United BS in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.