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approved by SuffolkBuildingSociety

Ready to buy a new home? Failing to check that a lawyer is on the SuffolkBuildingSociety list of approved solicitors can put your transaction at risk of delay or failure.

Find an Approved Solicitor on the Suffolk Building Society Conveyancing Panel

FAQs : The Suffolk Building Society Conveyancing Panel

I am expecting a mortgage with Suffolk Building Society. I hope to enlist the help of a Licensed Conveyancer. Does the Suffolk Building Society Solicitor panel allow for conveyancers regulated by the CLC
Suffolk Building Society’s approved solicitor list is, like many other lenders associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
Our solicitor has uncovered a problem with the lease for the apartment we are buying. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer says that as he is on the Suffolk Building Society conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is Suffolk Building Society?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Suffolk Building Society are the client. A precondition to being on the Suffolk Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Suffolk Building Society). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Suffolk Building Society can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I am looking for conveyancing quotes online. Can I be sure that all the practices that are identified on your site are on the Suffolk Building Society conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have assured us via an online form that they are on the Suffolk Building Society panel and agreed to advise us to take down their listing in the event of removal off of the Suffolk Building Society panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Suffolk Building Society conveyancing panel is incorrect.
I am considering applying for a Suffolk Building Society mortgage for purchase of a newly converted (under development) with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Suffolk Building Society?
There is nothing to stop you using your solicitor but Suffolk Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Suffolk Building Society conveyancing panel requirements are different to Suffolk Building Society’s conveyancing panel requirements.
I have agreed a price on a house I spoke to a lawyer recommended by my brother and he suggested retaining a law firm approved by Suffolk Building Society. The estate agent recommended two local firms so I asked Suffolk Building Society if the 2 suggested solicitors are approved, which they are not. Suffolk Building Society suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Suffolk Building Society 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Suffolk Building Society for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Suffolk Building Society conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Suffolk Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Suffolk Building Society’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
My fiance and I are in the process of looking at flats and am about to put in an offer. Is it best to have a conveyancer on ‘stand by’? I intend to finance via a mortgage with Suffolk Building Society
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Suffolk Building Society , ask your prospective lawyers check they are on the Suffolk Building Society conveyancing panel otherwise they can't do the mortgage legal work.