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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 Conveyancing Panel
For what reasons could a firm of solicitors be excluded from the West Bromwich Building Society solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been excluded from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by West Bromwich Building Society
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company West Bromwich Building Society will not agree to this. Why was West Bromwich Building Society even consulted?
Your lawyer being on the West Bromwich Building Society conveyancing panel is duty bound to inform West Bromwich Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to West Bromwich Building Society then they would have to discontinue acting for you and West Bromwich Building Society.
I require the services of a West Bromwich Building Society panel solicitor in Stirling. Could you help me?
Unfortunately it’s not apparent why you need a West Bromwich Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to West Bromwich Building Society to find out which solicitors in West Bromwich Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
My solicitors in Manchester have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with West Bromwich Building Society. Is it case that being on the West Bromwich Building Society conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender 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 West Bromwich Building Society Conveyancing Panel Terms. It might be worth you contacting West Bromwich Building Society directly.
Are all Conveyancing Quality Solicitors on the West Bromwich Building Society conveyancing panel?
It is true that some banks and building societies now use CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
I previously instructed online conveyancers located in Birmingham who are on the West Bromwich Building Society solicitor panel. They have just invoiced me a separate fee of £175 for the legal aspects of the West Bromwich Building Society mortgage. Is this a supplemental conveyancing fee set by West Bromwich Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by West Bromwich Building Society but by your lawyers. Some firms on the West Bromwich Building Society will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
Do most lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the West Bromwich Building Society conveyancing panel requirements are different to West Bromwich Building Society’s conveyancing panel requirements.