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approved by Chelsea BS
Ready to buy a new home? Failing to check that a lawyer is on the Chelsea BS list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Chelsea Building Society (a trading name of Yorkshire BS) Conveyancing Panel
Examples of recent questions relating to the Chelsea Building Society Conveyancing Panel
My husband and I are purchasing a 3 bedroom apartment in London with a mortgage from Chelsea Building Society. We like our lawyer but Chelsea Building Society says she’s not on their "panel". We have to appoint one of the Chelsea Building Society 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 Chelsea Building Society use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Chelsea Building Society 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Chelsea 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 Chelsea Building Society. Apparently, being on the Chelsea Building Society conveyancing panel and acting on their behalf he must inform Chelsea Building Society if the balance of the mortgage advance is not just from me. I advised the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Chelsea 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 Chelsea Building Society if you agree, failing which, your lawyer must cease to continue acting.
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I understood that this was a condition of being on the Chelsea Building Society solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
The lawyers that I appointed last week on my house acquisition in Brighton has without warning closed. I only went with them because I needed a solicitor on the Chelsea Building Society conveyancing panel and my previous lawyer was not. I gave my credit card details for them to take £175 for searches. What are my options?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Chelsea Building Society conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist
What are the common reasons for a lender such as Chelsea Building Society to withdraw a mortgage offer?
Lenders such as Chelsea Building Society can revoke their mortgage offer although this rarely happens. should Chelsea Building Society withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are a number of examples:
- Chelsea Building Society may amend or withdraw an offer if the Chelsea Building Society conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
- Where the Lender’s right to possession is fettered in some way
Can I register a complaint to Chelsea Building Society about the lawyers being on the Chelsea Building Society conveyancing panel?
Complaining to Chelsea Building Society about their conveyancing panel is unlikely to yield much of a response. All solicitors and conveyancer must have a complaints procedure. Usually one can find this information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is properly dealt with by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
Intending to buy a house with a mortgage with Chelsea Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Chelsea Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Chelsea Building Society conveyancing panel