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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.
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Suffolk Building Society Conveyancing Panel : Questions and Answers
It has come to my attention via my estate agent that my the law firm I have appointed is not on the Suffolk Building Society Solicitor panel. How can I check?
The best course of action for you to take is to contact your lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the the approved Suffolk Building Society solicitor panel.
My wife and I intend to remortgage our flat with Suffolk Building Society. We have a son 19 who lives with us. The solicitor on the Suffolk Building Society conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this document specific to the Suffolk Building Society conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Suffolk Building Society conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Suffolk Building Society .This is solely used to protect the Suffolk Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Suffolk Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I note that you have a search directory listing firms on the Suffolk Building Society conveyancing panel. Do firms pay you a commission if I instruct them for my conveyancing?
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.
I was supposed to move into my first house yesterday. My lawyer’s firm is on the Suffolk Building Society conveyancing panel but has changed address in the past couple of months and had not informed Suffolk Building Society of their new address. Suffolk Building Society is now refusing to release my funds until such time as their systems are up to date with the correct details.
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 Suffolk Building Society branch or your mortgage broker to see if they can assist.
How can we tell if a solicitor on the Suffolk Building Society panel is any good?
seeking recommendations is a good start. 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 advise that you speak with the lawyer conducting your transaction
We have a mortgage agreed in principle with Suffolk Building Society. Solicitors have been chosen? How long does it take for Suffolk Building Society to send the offer to our conveyancer
There is no definitive answer here. Have Suffolk Building Society conducted the survey? Have you advised Suffolk Building Society as your lawyers details and checked that your lawyer is on the Suffolk Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
My ex -wife’s name is on the Suffolk Building Society mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Suffolk Building Society mortgage in order to sell?
In terms of the Suffolk Building Society mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Suffolk Building Society in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.