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approved by Loughborough Building Society
Ready to buy a new home? Failing to check that a lawyer is on the Loughborough Building Society 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 Loughborough Building Society Conveyancing Panel? How can my firm be reinstated onto the Loughborough Building Society Conveyancing Panel?Find an Approved Solicitor on the Loughborough Building Society Conveyancing Panel
Common questions asked concerning the Loughborough Building Society Conveyancing Panel
My husband and I are purchasing a 3 bedroom flat in Hackney with a mortgage from Loughborough Building Society. We like our solicitor but Loughborough Building Society says she’s not on their "panel". It seems we have little choice but to instruct one of the Loughborough Building Society panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Loughborough 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 Loughborough 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 Loughborough Building Society
Our solicitor has requested from me ID documents saying that this forms part of his requirements as a solicitor on the Loughborough Building Society Solicitor panel. Am I being spun a yarn?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that Loughborough Building Society also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Loughborough Building Society CML Handbook requirements last updated on Loughborough Building Society
What tools are available to find a local solicitor on the Loughborough Building Society conveyancing panel? I have a car and am prepared to travel up to 25 miles to meet the lawyer.
You can use the find a conveyancing panel tool on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Loughborough Building Society solicitor panel.
My grandmother passed away last year and as sole heir and executor was left the property. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Loughborough Building Society , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Loughborough Building Society will insist on your using a conveyancer on the Loughborough Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Loughborough Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Loughborough Building Society mortgage is registered as a charge at the Land Registry.
Are all solicitor firms on the Loughborough Building Society conveyancing panel regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Loughborough Building Society 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).
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Loughborough Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Loughborough Building Society your lawyer must to check the Loughborough Building Society conveyancing instructions contained in the Part of CML Handbook for Loughborough Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Loughborough Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
On the whole I have been dissatisfied with the level or service received from my lawyer. Is there a Loughborough Building Society conveyancing panel complaints department or do I complain directly to the law firm?
There is little point in complaining directly to Loughborough Building Society. Every solicitor firm and conveyancer must have a complaints procedure. Usually one can find this information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.