Find an Approved Solicitor on the Penrith Building Society
Q and A’s regarding the Penrith Building Society Conveyancing Panel
Am I correct in assuming that the fact that my conveyancer is not on the Penrith Building Society Conveyancing panel that there is a problem with the quality of his conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Penrith Building Society.
Please assist. For no fault of my lawyer but, my purchase conveyancing has been going on for months. The Local Authority Search from Penrith Building Society was dated random date and we have agreed a date for me to move into the property on Tues etc. My solicitor says that as she is on the Penrith Building Society conveyancing panel she needs to reorder the searches as they are no longer acceptable to the lender.
One of the many conditions to being on the Penrith Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Penrith Building Society)which states that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Penrith Building Society.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Penrith Building Society conveyancing panel. My lawyer has said that they are on the Penrith Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Penrith Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Penrith Building Society solicitor panel.
We're in Wales, FTBs purchasing with a mortgage (lender is Penrith Building Society , but our solicitor is on the Penrith Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Penrith 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 Quality Solicitors on the Penrith Building Society conveyancing panel?
Some major banks and building societies now use CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
We were going to get a DIP from Penrith Building Society this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Penrith Building Society recommend a solicitor on the Penrith Building Society conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Penrith Building Society conveyancing panel. The solicitor represents both you and the Penrith Building Society through the process.
Planning on purchasing a house with a mortgage with Penrith Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Penrith Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Penrith Building Society conveyancing panel
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