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Ready to buy a new home? Failing to check that a lawyer is on the 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 Leek Building Society Conveyancing Panel? How can my firm be reinstated onto the Leek Building Society Conveyancing Panel?Find an Approved Solicitor on the Leek Building Society Conveyancing Panel
FAQs : The Leek BS Solicitor Panel
My lawyer is not listed on the Leek BS Approved Panel. Can I still retain my preferred solicitor even though they are excluded from the Leek BS approved list?
You have a number of options available to you here:
- Complete the purchase with your existing solicitors but Leek BS will need to instruct a lawyer on the Leek BS conveyancing panel. This will result in additional cost and potential delay.
- Get a new solicitor to act in the purchase, obviously checking they are on the Leek BS conveyancing panel.
- Urge your lawyer to apply to join the Leek BS lender panel
My grandson is purchasing a house that has just been built with a mortgage from Leek BS. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Leek BS conveyancing panel as a standard part of the process, and to the surveyor when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Leek BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am planning to acquire a property and require a conveyancing solicitor in London who is on the Leek BS solicitor. Could you point me in the right direction as regards a firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Leek BS . We don’t recommend any particular firm.
Please explain the implications if my solicitor is suspended from the Leek BS Conveyancing panel prior to the moving date as agreed at exchange of contracts?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Are all conveyancing solicitors on the Leek BS conveyancing panel regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Leek BS conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
Is it common for Leek BS to withdraw a mortgage offer and what would be the reasoning?
Banks and Building Societies such as Leek BS can withdraw their mortgage offer although this is unusual. If Leek BS withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are 5 examples:
- Where information comes to Leek BS ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- Leek BS may amend or withdraw an offer if the Leek BS conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- If the borrower informs Leek BS of a change in security address
- Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
- Where the lender has to take account a recent change in taxation
I am due to exchange contracts on my house. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Leek BS are being a right pain. The solicitor who is on the Leek BS conveyancing panel is saying indemnity insurance will be fine but Leek BS are requiring a building regulation certificate. Why do Leek BS have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Leek BS have referred the matter to their valuer. The reason why Leek BS 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.
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