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approved by Swansea BS
Ready to buy a new home? Failing to check that a lawyer is on the Swansea 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 Swansea Building Society Conveyancing Panel? How can my firm be reinstated onto the Swansea Building Society Conveyancing Panel?
Find an Approved Solicitor on the Swansea Building Society Conveyancing Panel
FAQs for the Swansea Building Society Solicitor Panel
Am I correct in assuming that the fact that my solicitor is not isted on the Swansea Building Society Solicitor panel that there is a problem with the quality of the firm’s conveyancing?
It would not be wise to jump to that conclusion. 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 top 3 reasons are as follows: (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 Swansea Building Society.
Our lawyer has discovered a legal deficiency with the lease for the flat we are buying. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that as he is on the Swansea Building Society conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or Swansea Building Society?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Swansea Building Society are the client. A precondition to being on the Swansea Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Swansea Building Society). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Swansea 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.
Your search tool is useful but there are many lawyers listed near London on the Swansea Building Society conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Swansea Building Society ?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
We're in Liverpool, First timers buying with a mortgage (lender is Swansea Building Society , but our solicitor is on the Swansea Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Swansea 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
When it comes to lenders such as Swansea Building Society do lawyers have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Are all solicitor practices on the Swansea Building Society conveyancing panel regulated by the SRA?
As solicitors, in order to be on the Swansea Building Society conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I recently had an offer accepted on a house. My mortgage broker recommended their conveyancers I paid an upfront payment of 175. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Swansea Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Swansea Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.