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Ready to buy a new home? Failing to check that a lawyer is on the West Bromwich BS list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the West Bromwich Building Society Conveyancing Panel? How can my firm be reinstated onto the West Bromwich Building Society Conveyancing Panel?Find an Approved Solicitor on the West Bromwich Building Society Conveyancing Panel
Q and A’s regarding the West Bromwich Building Society Solicitor Panel
A lawyer I wanted to use for conveyancing on a purchase said she will levy higher legal fees if my mortgage is with West Bromwich Building Society because of their difficult processes! Am I likely to be frustrated using West Bromwich Building Society? Any comments will be appreciated
West Bromwich Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the West Bromwich Building Society conveyancing panel. If they are not, this does add further risk of delay as West Bromwich Building Society will appoint their own solicitors to look after their interest.
Can you clarify something for me?. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from West Bromwich Building Society was date stamped random date and we have agreed a date for me to move into the property on Tues etc. My solicitor has advised that as she is on the West Bromwich Building Society conveyancing panel she needs to reorder the searches as they are no longer acceptable to the lender.
A precondition to being on the West Bromwich Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on West Bromwich Building Society)which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to West Bromwich Building Society.
How up to date is your search tool for the West Bromwich Building Society conveyancing panel? Do West Bromwich Building Society send you an updated list?
The law firm practices themselves provide us confirmation that they are on the West Bromwich Building Society conveyancing panel as opposed to being supplied with a list from West Bromwich Building Society directly.
My aunt passed away 10 months ago and as sole heir and executor was left the house. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to West Bromwich Building Society , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then West Bromwich Building Society will insist on your using a conveyancer on the West Bromwich Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your West Bromwich Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the West Bromwich Building Society mortgage is registered as a charge at the Land Registry.
is it true that all solicitor practices on the West Bromwich Building Society conveyancing panel overseen by the SRA?
As solicitors, in order to be on the West Bromwich Building Society conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
My ex -wife’s name is on the West Bromwich 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 West Bromwich Building Society mortgage in order to sell?
As regards the West Bromwich 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 West Bromwich 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.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What should be my next step? When should I get the mortgage app going with West Bromwich Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the West Bromwich Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with West Bromwich Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.