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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
Chelsea Building Society Conveyancing Panel : Questions and Answers
For what reasons could a law firm be excluded from the Chelsea Building Society approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been removed from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Chelsea Building Society
Our solicitor has uncovered a legal deficiency with the lease for the apartment we are purchasing. The seller’s lawyers have put forward defective title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer says that as he is on the Chelsea Building Society conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or Chelsea Building Society?
Just because you have a mortgage offer from Chelsea Building Society does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Chelsea Building Society are the client. These conveyancing instructions have to be complied with by the Chelsea Building Society conveyancing panel who has to balance acting for you and Chelsea Building Society
I am looking to buy a house and need a conveyancing solicitor in London who is on the Chelsea Building Society approved. Could you point me in the right direction as regards a conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Chelsea Building Society . We don’t recommend any particular firm.
I was due to complete on my dream home last Friday. My solicitor is on the Chelsea Building Society conveyancing panel but has changed address 8 weeks ago and had not advised Chelsea Building Society of their new address. Chelsea Building Society has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Chelsea Building Society branch or your mortgage broker to see if they can help.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Chelsea 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?
Given that your lender is Chelsea Building Society your lawyer must to check the Chelsea Building Society conveyancing instructions contained in the Part of CML Handbook for Chelsea Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Chelsea Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
Hi, thinking about buying a house off my mate. Once we agree a price, what’s the best way to proceed? I plan to obtain a mortgage with Chelsea Building Society. Is there anyway to cut out the solicitors to save us both money? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Chelsea Building Society involved you will need to appoint a solicitor on the Chelsea Building Society conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Chelsea Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Chelsea Building Society conveyancing panel.
I recently had an offer accepted on an apartment. My financial adviser recommended their conveyancers I paid an upfront payment of 175. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Chelsea Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Chelsea Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.