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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
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Much to my surprise I have been told by my estate agent that my solicitor is not on the Loughborough Building Society Solicitor panel. How can I be certain that this is indeed the case?
The first thing you need to do is to contact your lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for Loughborough Building Society.
We are nearing an exchange and my mum and dad having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Loughborough Building Society. Apparently, being on the Loughborough Building Society conveyancing panel and acting on their behalf he must inform Loughborough Building Society if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the home loan so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Loughborough Building Society to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Loughborough Building Society if you agree, failing which, your lawyer must cease to continue acting.
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 20 kilometers to meet the conveyancer.
Feel free to make use of the find a conveyancing panel search 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.
We're in Birmingham, First time buyers buying with a mortgage (lender is Loughborough Building Society , but our lawyer is on the Loughborough Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Loughborough Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Do conveyancing solicitors on the Loughborough Building Society 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 service
We expect to receive a DIP from Loughborough Building Society this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Loughborough Building Society recommend a solicitor on the Loughborough Building Society conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Loughborough Building Society conveyancing panel. The solicitor represents both you and the Loughborough Building Society through the process.
I have paid off my mortgage with Loughborough Building Society. I assume I don't need a solicitor on the Loughborough Building Society panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Loughborough Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Loughborough Building Society mortgage from the register. Loughborough Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Loughborough Building Society has sent the Land Registry the discharge electronically, and
the Loughborough Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Loughborough Building Society mortgage has been paid off.