Find an Approved Solicitor on the Chesham Building Society
Chesham Building Society Solicitor Panel Example Support Desk Enquires
I am selling my flat and the EA has just e-mailed to advise that the purchasers are appointing a new solicitor. The excuse is that Chesham Building Society will only engage with property lawyers on their conveyancing panel. On what basis would a leading lender only engage with certain law firms?
Banks have always had panels of law firms they are willing to work with, but in the past few years big names such as Nationwide , have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks blame a rise in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
My property lawyer is asking me for personal identification documents stating that this forms part of his retainer as a solicitor on the Chesham Building Society Solicitor panel. Is this right?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Chesham Building Society your lawyer also has to check ID documents to satisfy Chesham Building Society
I am searching for conveyancing quotes online. Can I be sure that all the firms that are listed on your site are on the Chesham Building Society conveyancing panel?
The law firms listed on our site have advised us that they are on the Chesham Building Society panel and agreed to advise us to take down their listing in the event of removal off of the Chesham Building Society panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Chesham Building Society conveyancing panel is incorrect.
I am selling my house. Does my solicitor have to be on the Chesham Building Society conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Chesham Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Do the majority of lenders 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 requirements.
I have had an offer accepted on a apartment I spoke to a solicitor previously used by my dad and he advised using a law firm approved by Chesham Building Society. The estate agent recommended two local firms so I asked Chesham Building Society if the 2 suggested solicitors are approved, which they are not. Chesham Building Society pointed out that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Chesham Building Society 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Chesham Building Society to suggest a law firm in your location. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Chesham Building Society conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Chesham Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Chesham Building Society’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
I have a mortgage with Chesham Building Society. Conveyancing was finalised some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Chesham Building Society?
You must advise Chesham Building Society in advance of letting out your property as this is likely to be a breach of Chesham Building Society’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Chesham Building Society directly. You need not do this via a Chesham Building Society conveyancing panel lawyer.