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Ready to buy a new home? Failing to check that a lawyer is on the Swansea BS list of approved solicitors can put your transaction at risk of delay or failure.
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I have just been informed by my broker that my the law firm I have appointed is not on the Swansea Building Society Solicitor panel. How can I be certain that this is indeed the case?
You need to contact your conveyancer. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they could put your in touch with solicitors on the the approved Swansea Building Society solicitor panel.
My grandson is about to exchange on a house that has just been built with a mortgage from Swansea Building Society. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Swansea Building Society conveyancing panel as a standard part of the process, and to the surveyor when requested.
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 Swansea Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do I have to pop into the offices of the Swansea Building Society conveyancing panel solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Liverpool
so that I can pop in to their offices if required.
Whereas this was necessary 12 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Liverpool
.
I was due to complete on my flat two days ago. My solicitor is on the Swansea Building Society solicitors panel but has moved offices 8 weeks ago and had not informed Swansea Building Society of their new address. Swansea Building Society is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Swansea Building Society branch or your mortgage broker to see if they can help.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Swansea Building Society conveyancing panel?
Some major lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
We are getting a further advance on our mortgage from Swansea Building Society as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Swansea Building Society conveyancing panel to deal with the paperwork?
Swansea Building Society do not ordinarily instruct firms on their conveyancing panel 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 Swansea Building Society panel
I am buying a property where the roof has a solar panel. Swansea 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 Swansea Building Society your lawyer must to check the Swansea Building Society conveyancing instructions contained in the Part of CML Handbook for Swansea Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Swansea Building Society 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.