Find an Approved Solicitor on the Suffolk Building Society
Conveyancing Panel
Suffolk Building Society Conveyancing Panel : Questions and Answers
My partner and I are novices when it comes to buying a property. Within the 48 hours our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Suffolk Building Society have this afternoon contacted us to advise us that they have now hit a problem as our lawyer is not on their approved list of lawyers. Is this a problem?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme.
Your property lawyers should contact Suffolk Building Society and see if they can apply for membership of the Suffolk Building Society conveyancing panel, but if that is not viable Suffolk Building Society will instruct their own solicitors to act. You don't have to instruct a firm on the Suffolk Building Society conveyancing panel as you are at liberty to use your preferred lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
We are only a couple days away from an exchange and my parents having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Suffolk Building Society. I am advised that, being on the Suffolk Building Society conveyancing panel and acting on their behalf he must inform Suffolk Building Society if the balance of the mortgage advance is coming from anyone other than me. I advised the bank about my parent’s contribution when I applied for the home loan so is it really necessary for him to raise this?
Your lawyer is obliged to check with Suffolk 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 Suffolk Building Society if you agree, failing which, your lawyer must cease to continue acting.
I see that you have a post code search directory listing firms on the Suffolk Building Society conveyancing panel. Do firms pay you a commission if I appoint them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Suffolk Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
We're in London, FTBs purchasing with a mortgage (lender is Suffolk Building Society , but our solicitor is on the Suffolk Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Suffolk 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
Is there a list of Suffolk Building Society panel conveyancers on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Suffolk Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Suffolk Building Society your lawyer must to check the Suffolk Building Society conveyancing instructions contained in the Part of CML Handbook for Suffolk Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Suffolk Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
After shopping around on the internet I have found a solicitor having made sure that they are on the Suffolk Building Society conveyancing panel. Does my lawyer arrange the survey of the property?
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Having digested plenty of mortgage guides,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Suffolk Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Suffolk Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Suffolk Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Suffolk Building Society you could contact your them to see if they have a list of approved surveyors.