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Conveyancing Panel
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My fiance and I are FTBs. Within the 48 hours our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Tipton Coseley Building Society have this afternoon contacted us to inform me that there is now an issue as our conveyancer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme.
Your property lawyers should contact Tipton Coseley Building Society and see if they can apply for membership of the Tipton Coseley Building Society conveyancing panel, but if that is not viable Tipton Coseley Building Society will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the Tipton Coseley Building Society conveyancing panel and you may continue to use your own solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
My son-in-law is buying a new build apartment with a home loan from Tipton Coseley Building Society. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 Tipton Coseley 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 Tipton Coseley 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.
I am buying a house and need a conveyancing solicitor in London who is on the Tipton Coseley Building Society conveyancing. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Tipton Coseley Building Society . We don’t recommend any particular firm.
I was supposed to complete on my dream home last Thursday. My lawyer’s firm is on the Tipton Coseley Building Society conveyancing panel but has changed address in the past couple of months and had not informed Tipton Coseley Building Society of their new address. Tipton Coseley Building Society is now refusing to release my funds as the information from the solicitors isn't correct.
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 Tipton Coseley Building Society branch or your mortgage broker to see if they can help.
is it true that all solicitors on the Tipton Coseley Building Society conveyancing panel overseen by the SRA?
As a firm of solicitors, in order to be on the Tipton Coseley Building Society conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
Hi, thinking about buying a house off my mate. Once we agree a price, what’s the best way to move forward? I hope to get a mortgage with Tipton Coseley Building Society. Is it possible to avoid using solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Tipton Coseley Building Society involved you will need to appoint a solicitor on the Tipton Coseley Building Society conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Tipton Coseley Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Tipton Coseley Building Society conveyancing panel.
I recently had an offer accepted on a house. My financial adviser pressured me to appoint their lawyers I paid an upfront payment of 175. Soon after the conveyancers contacted me to say that they were not on the Tipton Coseley Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Tipton Coseley Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.