Find a Law Firm
approved by

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.

Find an Approved Solicitor on the Chesham Building Society Conveyancing Panel

Examples of recent questions relating to the Chesham Building Society Conveyancing Panel

Is there a reason why all property lawyers aren't included on the Chesham Building Society Solicitor panel?
Chesham Building Society and other lenders tend to restrict either the type or the number of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Chesham Building Society have no responsibility for the quality of advice provided by any member of Chesham Building Society Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
Can you clarify something for me?. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from Chesham Building Society was dated random date and we have agreed a date for me to move into the property on 6. My solicitor informs me that as she is on the Chesham Building Society conveyancing panel she needs to redo the searches as they are now out of date.
A precondition to being on the Chesham Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Chesham Building Society)which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Chesham Building Society.
Whilst your website is a good idea there are many lawyers listed near Coventry on the Chesham Building Society conveyancing panel. Can you recommend a specific firm on the Chesham Building Society approved panel?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
Can you clarify what the consequences are if my solicitor is suspended from the Chesham Building Society Conveyancing panel before the completion date?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Is there a list of Chesham Building Society panel solicitors on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
Is it common for Chesham Building Society to withdraw a mortgage offer and what would be the reasoning?
Lenders such as Chesham Building Society can withdraw their mortgage offer although this rarely happens. If Chesham Building Society withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are various possible reasons but here are a few examples:
  • Chesham Building Society may amend or withdraw an offer if the Chesham 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
  • If the financial circumstances of the borrower have changed to the detriment and the Chesham Building Society has been notified
  • 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
  • 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
  • If the solicitor on the Chesham Building Society conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Chesham Building Society ‘s instructions
Planning on purchasing a house with a mortgage with Chesham 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 Chesham 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 Chesham Building Society conveyancing panel