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approved by Family BS
Ready to buy a new home? Failing to check that a lawyer is on the Family 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 Family Building Society Conveyancing Panel? How can my firm be reinstated onto the Family Building Society Conveyancing Panel?Find an Approved Solicitor on the Family Building Society Conveyancing Panel
FAQs for the Family Building Society Solicitor Panel
My husband and I are buying a 3 bedroom apartment in Newcastle with a mortgage from Family Building Society. We like our solicitor but Family Building Society says she’s not on their "panel". We have to appoint one of the Family 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 Family Building Society use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Family 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for Family Building Society
I am due to complete my purchase 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 Family Building Society. What risks do Family Building Society expect the insurance to cover?
Any lawyer on the Family 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 Family Building Society’s Part 2 requirements of the CML Handbook (last updated on Family Building Society). Being on the Family Building Society conveyancing panel your lawyer is expect to follow these requirements.
I am looking to buy a property and require a conveyancing solicitor in who is on the Family Building Society solicitor. Could you point me in the right direction as regards a solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Family Building Society . We don’t recommend any particular firm.
I am trying to get my ex-wife removed the mortgage deeds. Can Family Building Society really insist on which solicitor I can or can not retain?
You can use any solicitor you like but Family Building Society then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Family Building Society solicitors panel
How can we tell if a solicitor on the Family Building Society panel is any good?
obtaining recommendations is a sensible start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer carrying out your transaction
In what circumstances might Family Building Society amend or withdraw their mortgage offer?
Lenders such as Family Building Society can withdraw their mortgage offer although this rarely happens. should Family 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 Family 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
- 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 the lender has to take account a recent change in taxation
- Where the sale is not at arms length for value to unconnected persons
- Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
We have had an offer accepted on a apartment I spoke to a conveyancer recommended by my dad and he recommended instructing a law firm approved by Family Building Society. The estate agent recommended two local firms so I asked Family Building Society if the 2 suggested solicitors are approved, which they are not. Family Building Society suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Family Building Society 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Family Building Society for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Family Building Society conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Family Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Family Building Society’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.