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approved by Penrith BS
Ready to buy a new home? Failing to check that a lawyer is on the Penrith BS 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 Penrith Building Society Conveyancing Panel? How can my firm be reinstated onto the Penrith Building Society Conveyancing Panel?Find an Approved Solicitor on the Penrith Building Society Conveyancing Panel
Frequently asked questions relating to the Penrith Building Society Solicitor Panel
My IFA has asked me for my solicitor’s panel reference for the Penrith Building Society conveyancing panel. What is the best way to find this out. I have called my local Penrith Building Society branch but they don't know it.
You are best placed to get this information from your conveyancing lawyer. They should have a central record lender panel numbers including the Penrith Building Society panel reference.
Please help. My conveyancer is informing me me that he is legally obliged to order a Local Authority search as the firm are on the Penrith Building Society approved lawyer panel. Is my lawyer correct?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with Penrith Building Society your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Penrith Building Society’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Penrith Building Society. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Your search tool is useful but there are many lawyers listed near Chelsea on the Penrith Building Society conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Penrith Building Society approved panel?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
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 £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Penrith Building Society , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Penrith Building Society will insist on your using a conveyancer on the Penrith 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 Penrith 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 Penrith Building Society mortgage is registered as a charge at the Land Registry.
I am buying a property where the roof has a solar panel. Penrith 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?
As your lender is Penrith Building Society your lawyer must to check the Penrith Building Society conveyancing instructions contained in the Part of CML Handbook for Penrith Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Penrith 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.
I currently have a mortgage with with Penrith Building Society. Conveyancing was finalised months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Penrith Building Society?
Penrith Building Society must be informed of your intention in advance of letting out your property as this is likely to be a breach of Penrith Building Society’s mortgage conditions. It may be that Penrith Building Society will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Penrith Building Society directly. You need not do this via a Penrith Building Society conveyancing panel solicitor.
I am selling my flat. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Penrith Building Society are being a right pain. The solicitor who is on the Penrith Building Society conveyancing panel is saying indemnity insurance will be fine but Penrith Building Society are requiring a building regulation certificate. Why do Penrith Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Penrith Building Society have referred the matter to their valuer. The reason why Penrith Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.