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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.

Find an Approved Solicitor on the Loughborough Building Society Conveyancing Panel

Loughborough Building Society Conveyancing Panel Recently Asked Questions

Is there a reason why all property lawyers are not on the Loughborough Building Society Solicitor panel?
Before the recession most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
Much to my surprise my solicitor has informed me that he requires proof of ID documents stating that this is part of his requirements as a conveyancer on the Loughborough Building Society Solicitor panel. Is this right?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that Loughborough Building Society also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Loughborough Building Society CML Handbook requirements last updated on Loughborough Building Society
Is it necessary during the course of the conveyancing process to visit the offices of the Loughborough Building Society conveyancing panel solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Manchester so that I can pop in to their offices if necessary.
As opposed to 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 .
My lawyers in London have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with Loughborough Building Society. Is it case that being on the Loughborough Building Society conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Loughborough Building Society Conveyancing Panel Terms. It might be worth you contacting Loughborough Building Society directly.
Do conveyancing solicitors on the Loughborough Building Society conveyancing panel work on a no move no charge basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
I previously instructed online conveyancers located in Bristol who are on the Loughborough Building Society solicitor panel. They have just invoiced me a separate fee of £175 for the legal aspects of the Loughborough Building Society mortgage. Is this an additional conveyancing fee specified by Loughborough 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 Loughborough Building Society but by your lawyers. Some firms on the Loughborough Building Society will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
I have today made my last payment due on 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. Please confirm
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.