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Q and A’s regarding the Leek BS Solicitor Panel
We are purchasing a 1 bedroom flat in Leeds with a mortgage from Leek BS. We have a solicitor but Leek BS says he's not on their "panel". We have to appoint one of the Leek BS panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
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 Leek BS 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Leek BS
My partner and I intend to remortgage our penthouse with Leek BS. We have a son 19 who lives with us. The solicitor on the Leek BS conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this form unique to the Leek BS conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Leek BS .This is solely used to protect the Leek BS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Leek BS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I have been Googling for conveyancing quotes online. Can I be confident that all the firms that are listed on your site are on the Leek BS conveyancing panel?
The law firms listed on our site have assured us via an online form that they are on the Leek BS panel and agreed to advise us to take down their listing in the event of removal off of the Leek BS panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific firm being on the Leek BS conveyancing panel is not accurate.
My conveyancers in Newcastle have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with Leek BS. Is it case that being on the Leek BS 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 Leek BS Conveyancing Panel Terms. It might be worth you contacting Leek BS directly.
Is it the case that all conveyancing lawyers on the Leek BS conveyancing panel work on a no sale no fee basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
We have a mortgage agreed in principle with Leek BS. Solicitors have been appointed? How long does it take for Leek BS to send the offer to our conveyancer
Some lenders take longer than others. Have Leek BS completed the valuation? Have you advised Leek BS as your lawyers details and checked that your lawyer is on the Leek BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Leek BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Leek BS your lawyer must to check the Leek BS conveyancing instructions contained in the Part of CML Handbook for Leek BS . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Leek BS where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
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