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approved by Cambridge BS
Ready to buy a new home? Failing to check that a lawyer is on the Cambridge 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 Cambridge Building Society Conveyancing Panel? How can my firm be reinstated onto the Cambridge Building Society Conveyancing Panel?Find an Approved Solicitor on the Cambridge Building Society Conveyancing Panel
Examples of recent questions relating to the Cambridge Building Society Solicitor Panel
Much to my surprise I have been told by my mortgage broker that my property lawyer is not on the Cambridge Building Society Solicitor panel. How can I be certain that this is indeed the case?
The first thing you need to do 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 may recommend you to a firm that is on the the approved Cambridge Building Society solicitor panel.
Expecting to move into my new home next Thursday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as he says that he has to check this in has capacity as lawyer for Cambridge Building Society. What does the insurance need to cover?
Any lawyer on the Cambridge Building Society conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Cambridge Building Society’s Part 2 requirements of the CML Handbook (last updated on Cambridge Building Society). Being on the Cambridge Building Society conveyancing panel your lawyer is expect to follow these requirements.
How up to date is your search tool for the Cambridge Building Society conveyancing panel? Do Cambridge Building Society send you an updated list?
The law firm practices themselves provide us confirmation that they are on the Cambridge Building Society conveyancing panel as opposed to being supplied with a list from Cambridge Building Society directly.
I am buying a semi-detached house and getting a mortgage with Cambridge Building Society. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Cambridge Building Society conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Cambridge Building Society conveyancing panel in your location.
We are getting a further advance on our mortgage from Cambridge Building Society as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Cambridge Building Society conveyancing panel to deal with the paperwork?
Cambridge Building Society do not ordinarily appoint a member of their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Cambridge Building Society list
Is it common for Cambridge Building Society to withdraw a mortgage offer and what would be the reasoning?
Lenders such as Cambridge Building Society can revoke their mortgage offer although this is unusual. If Cambridge Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a few examples:
- Where information comes to Cambridge Building Society ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- If the borrower informs Cambridge Building Society of a change in security address
- A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
- Where to proceed with the Mortgage offer would be unlawful
- Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
Cambridge Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Cambridge Building Society or your broker and complete any relevant paperwork. Cambridge Building Society will tell you what documents they want. Cambridge Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Cambridge Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.