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FAQs for the Leek BS Conveyancing Panel
My fiance and I are buying a 2 bedroom flat in London with a mortgage from Leek BS. We have a lawyer but Leek BS says she’s not on their "panel". We have to appoint one of the Leek BS panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Leek BS use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Leek BS conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Leek BS
Our lawyer has uncovered a legal deficiency with the lease for the flat we are buying. The other side have offered defective title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that as he is on the Leek BS conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or Leek BS?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Leek BS are the client. A precondition to being on the Leek BS approved panel is to comply with the CML Handbook requirements (last updated for this lender on Leek BS). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Leek BS can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
How do I search for a local solicitor on the Leek BS 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 Leek BS solicitor panel.
My grandmother passed away six months ago and as sole heir and executor was left the property. The house had a small mortgage remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Leek BS , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Leek BS will insist on your using a conveyancer on the Leek BS 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 Leek BS 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 Leek BS mortgage is registered as a charge at the Land Registry.
My existing mortgage is with Leek BS. My uncle has just retired and wants to pay off the mortgage left on the property. After Leek BS is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Leek BS conveyancing panel? I do not intend to live at the property once the Leek BS mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Leek BS panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
I am selling my apartment. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Leek BS are being a right pain. The solicitor who is on the Leek BS conveyancing panel is recommending indemnity insurance as a solution but Leek BS are insisting on a building regulation certificate. Why do Leek BS have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Leek BS have referred the matter to their valuer. The reason why Leek BS 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.
My ex -wife’s name is on the Leek BS mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Leek BS mortgage in order to sell?
As regards the Leek BS mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Leek BS in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
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Transfer of Equity for Leek BSPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors