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Ready to buy a new home? Failing to check that a lawyer is on the 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 Chesham Building Society Conveyancing Panel? How can my firm be reinstated onto the Chesham Building Society Conveyancing Panel?Find an Approved Solicitor on the Chesham Building Society Conveyancing Panel
Q and A’s regarding the Chesham Building Society Solicitor Panel
I am obtaining a offer of a mortgage from Chesham Building Society. I hope to use a Licensed Conveyancer. Does the Chesham Building Society Conveyancing panel exclude conveyancers regulated by the CLC
Chesham Building Society’s approved solicitor list is, like many other lenders represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
My partner and I intend to remortgage our penthouse with Chesham Building Society. We have a son 19 who lives with us. The solicitor on the Chesham Building Society conveyancing panel has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have two questions (1) Is this document specific to the Chesham Building Society conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong 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 Chesham Building Society .This is solely used to protect the Chesham 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 Chesham 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.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Chesham Building Society conveyancing panel. My lawyer has said that they are on the Chesham Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Chesham Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Chesham Building Society solicitor panel.
The lawyers that just started acting on my house acquisition in Brighton has suddenly closed. I only went with them because I needed a firm on the Chesham Building Society conveyancing panel and my preferred lawyer was not. I gave my credit card details for them to take £175 for searches. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. 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 Chesham 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 lawyers may be able to help
I had instructed online solicitors located in Manchester who are on the Chesham Building Society solicitor panel. They have just invoiced me a separate fee of £175 for the legal aspects of the Chesham Building Society mortgage. Is this an additional conveyancing fee specified by Chesham Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Chesham Building Society but by your lawyers. Some firms on the Chesham Building Society will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Chesham Building Society conveyancing panel requirements are different to Chesham Building Society’s conveyancing panel criteria.
I was told two weeks ago that my mortgage has been agreed
to by Chesham Building Society. Is it usual for Chesham Building Society to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Chesham Building Society to deal with your lawyers application to be on the Chesham Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.