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approved by Loughborough Building Society
Ready to buy a new home? Failing to check that a lawyer is on the Loughborough 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 Loughborough Building Society Conveyancing Panel? How can my firm be reinstated onto the Loughborough Building Society Conveyancing Panel?Find an Approved Solicitor on the Loughborough Building Society Conveyancing Panel
Frequently asked questions relating to the Loughborough Building Society Solicitor Panel
On what basis would a firm of solicitors be removed from the Loughborough Building Society solicitor 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 :
- Low volume 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 Loughborough Building Society
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Loughborough Building Society will not agree to this. Why was Loughborough Building Society even consulted?
Your lawyer being on the Loughborough Building Society conveyancing panel is duty bound to inform Loughborough Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Loughborough Building Society then they would have to discontinue acting for you and Loughborough Building Society.
I am Googling for competitive conveyancing fees. Can I be sure that all the law firms that are identified on your site are on the Loughborough Building Society conveyancing panel?
The law firms on our directory have assured us via an online form that they are on the Loughborough Building Society panel and agreed to advise us to take down their listing in the event of removal off of the Loughborough Building Society panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the Loughborough Building Society conveyancing panel is incorrect.
I was scheduled to move into my flat last Friday. My lawyer’s firm is on the Loughborough Building Society solicitors panel but has changed address in the past couple of months and had not advised Loughborough Building Society of their new address. Loughborough Building Society is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. Most 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 Loughborough Building Society branch or your mortgage broker to see if they can help.
When it comes to mortgage companies such as Loughborough Building Society do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I have paid off my mortgage with Loughborough Building Society. I assume I don't need a solicitor on the Loughborough Building Society panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Loughborough 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 Loughborough Building Society mortgage from the register. Loughborough 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 Loughborough Building Society has sent the Land Registry the discharge electronically, and
the Loughborough Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Loughborough Building Society mortgage has been paid off.
I was told two weeks ago that my mortgage has been agreed
to by Loughborough Building Society. Is it usual for Loughborough Building Society to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Loughborough Building Society to deal with your lawyers application to be on the Loughborough Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.