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FAQs : The Tipton Coseley Building Society Conveyancing Panel
My fiance and I are hoping to buy a 1 bedroom apartment in London with a mortgage from Tipton Coseley Building Society. We have a solicitor but Tipton Coseley Building Society says he's not on their "panel". We have to appoint one of the Tipton Coseley Building Society panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Tipton Coseley Building Society use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Tipton Coseley Building Society conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Tipton Coseley Building Society
Much to my surprise my conveyancer has requested from me identification documents stating that this forms part of his obligations as a conveyancer on the Tipton Coseley Building Society Solicitor panel. This is news to me - can I refuse?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Tipton Coseley Building Society your lawyer also has to check ID documents to satisfy Tipton Coseley Building Society
I see that you have a post code search directory identifying law firms on the Tipton Coseley Building Society conveyancing panel. Do firms pay you a referral fee if I retain them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Tipton Coseley Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My lawyers in Leeds have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with Tipton Coseley Building Society. Is it case that being on the Tipton Coseley Building Society conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Tipton Coseley Building Society Conveyancing Panel Terms. It might be worth you contacting Tipton Coseley Building Society directly.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Tipton Coseley 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 Tipton Coseley Building Society your lawyer must to check the Tipton Coseley Building Society conveyancing instructions contained in the Part of CML Handbook for Tipton Coseley Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Tipton Coseley Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
It is not clear whether my mortgage offer requires a lease extension . I have called into my local branch Tipton Coseley Building Society on numerous occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Tipton Coseley Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 requirements for Tipton Coseley Building Society. Unless your lawyer obtains specific confirmation in writing that Tipton Coseley Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Tipton Coseley Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
I am due to exchange contracts on my apartment. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Tipton Coseley Building Society are being difficult. The solicitor who is on the Tipton Coseley Building Society conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Tipton Coseley Building Society are requiring a building regulation certificate. Why do Tipton Coseley Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Tipton Coseley Building Society have referred the matter to their valuer. The reason why Tipton Coseley Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.