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approved by Penrith BS
Ready to buy a new home? Failing to check that a lawyer is on the Penrith BS 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 Penrith Building Society Conveyancing Panel? How can my firm be reinstated onto the Penrith Building Society Conveyancing Panel?
Find an Approved Solicitor on the Penrith Building Society Conveyancing Panel
Frequently asked questions relating to the Penrith Building Society Solicitor Panel
I would like to know the reason why all UK lawyers are not on the Penrith Building Society Conveyancing panel?
Penrith Building Society and other banks ordinarily restrict either the type or the number of conveyancing practices on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Penrith Building Society have no responsibility for the quality of advice provided by any member of Penrith Building Society Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
We are only a couple days away from an exchange and my parents 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 Penrith Building Society. I am advised that, being on the Penrith Building Society conveyancing panel and acting on their behalf he must inform Penrith Building Society if the balance of the mortgage advance is not just from 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 Penrith 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 Penrith Building Society if you agree, failing which, your lawyer must cease to continue acting.
I note that you have a post code search directory identifying law firms on the Penrith Building Society conveyancing panel. Do firms pay you a referral fee if I instruct them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Penrith Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I was expecting to move into my first house last Thursday. My solicitor is on the Penrith Building Society conveyancing panel but has changed address in the past couple of months and had not informed Penrith Building Society of their new address. Penrith Building Society has locked down the release of mortgage funds as the information from the solicitors isn't correct.
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 Penrith Building Society branch or your mortgage broker to see if they can help.
Can I be sure that the solicitor on the Penrith Building Society panel is any good?
obtaining recommendations is a good starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor conducting your transaction
Completion of my remortgage has taken place with a loan from Penrith Building Society. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about Penrith Building Society. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the Penrith Building Society branches or the Customer Services Department at Penrith Building Society head office. In most cases complaints to Penrith Building Society are resolved very quickly. However if you are not satisfied that the matter is resolved you can write to the Financial Ombudsman Service with full details of your complaint.
I was told four weeks ago that my mortgage has been agreed to by Penrith Building Society. Is it usual for Penrith Building Society to only issue the offer once my solicitor is approved on their conveyancing panel?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Penrith Building Society to deal with your lawyers application to be on the Penrith Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.