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approved by Swansea BS
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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How does my firm apply to be on the Swansea Building Society Conveyancing Panel? How can my firm be reinstated onto the Swansea Building Society Conveyancing Panel?Find an Approved Solicitor on the Swansea Building Society Conveyancing Panel
Examples of recent questions relating to the Swansea Building Society Conveyancing Panel
I appointed a law firm to carry out on my house purchase three weeks ago having applied for a mortgage with Swansea Building Society. The firm confirmed to me that they are on Swansea Building Society conveyancing panel and advised me their panel number. Swansea Building Society then told me that their panel number was dormant and would need to be reactivated. What do I do from here? Should I appoint a new solicitor currently on the approved panel for Swansea Building Society?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the Swansea Building Society as to the time frame to get your lawyer reinstated on the panel once again.
My husband and I are refinancing our flat with Swansea Building Society. We have a son 18 who lives with us. The solicitor on the Swansea Building Society conveyancing panel requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Swansea Building Society conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Swansea Building Society conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Swansea Building Society .This is solely used to protect the Swansea Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Swansea Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Do I need to pop into the offices of the Swansea Building Society conveyancing panel solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Bristol
so that I can attend their offices if necessary.
As opposed to twenty 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 Bristol
.
Can you clarify what the consequences are if my solicitor is suspended from the Swansea Building Society Solicitor panel prior to the moving date as agreed at exchange of contracts?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
My husband and I are spending time viewing flats and am about to put in an offer. Is it premature to have a solicitor in place? I intend to finance via a home loan with Swansea Building Society
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Swansea Building Society , make sure you remember to check that your lawyer is on the Swansea Building Society conveyancing panel.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Swansea Building Society. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Swansea Building Society you will need to appoint a solicitor on the Swansea Building Society conveyancing panel.
I was told three weeks ago that my mortgage has been agreed
to by Swansea Building Society. Is it usual for Swansea Building Society to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Swansea Building Society to deal with your lawyers application to be on the Swansea Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.