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approved by Chorley & District BS

Ready to buy a new home? Failing to check that a lawyer is on the Chorley & District BS list of approved solicitors can put your transaction at risk of delay or failure.

Find an Approved Solicitor on the The Chorley & District Building Society Conveyancing Panel

Common questions asked concerning the The Chorley & District Building Society Conveyancing Panel

I instructed a solicitor to conveyancing on my house purchase six weeks ago having applied for a mortgage with The Chorley & District Building Society. The firm confirmed to me that they are on The Chorley & District Building Society conveyancing panel and provided me their panel reference. The Chorley & District Building Society then ,via my broker advised that their panel number was dormant and would need to be reactivated. What happens next? Should I appoint a new solicitor listed on the conveyancing panel for The Chorley & District Building Society?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the The Chorley & District Building Society as to how long they think it will take to get the firm to get back on the panel.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company The Chorley & District Building Society will not agree to this. Why was The Chorley & District Building Society even consulted?
Your lawyer being on the The Chorley & District Building Society conveyancing panel is duty bound to inform The Chorley & District Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to The Chorley & District Building Society then they would have to discontinue acting for you and The Chorley & District Building Society.
How up to date is your search tool for the The Chorley & District Building Society conveyancing panel? Do The Chorley & District Building Society send you an updated list?
The law firm practices themselves provide us confirmation that they are on the The Chorley & District Building Society conveyancing panel as opposed to being supplied with a list from The Chorley & District Building Society directly.
I am selling my house. Does my solicitor have to be on the The Chorley & District Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the The Chorley & District 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.
Can I be sure that the solicitor on the The Chorley & District Building Society panel is any good?
seeking recommendations is a sensible starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer carrying out your transaction
In what circumstances might The Chorley & District Building Society amend or withdraw their mortgage offer?
Lenders such as The Chorley & District Building Society can withdraw their mortgage offer although this rarely happens. In the unlikely event that The Chorley & District Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are 5 examples:
  • Many mortgage offers have an expiry date. Your lawyer should check this. The Chorley & District Building Society may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
  • If the borrower informs The Chorley & District Building Society of a change in the loan amount agreed
  • Following advice from the valuer on their lender panel or If the lender has doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion
  • Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
  • If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
My ex -wife’s name is on the The Chorley & District Building Society 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 The Chorley & District Building Society mortgage in order to sell?
As regards the The Chorley & District Building Society 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 The Chorley & District Building Society 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.