Q and A’s regarding the Chesham Building Society Solicitor Panel from members of the public
On what basis would a firm of solicitors be removed from the Chesham Building Society solicitor panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been excluded 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 Chesham Building Society
My son is purchasing a newly built flat with a mortgage from Chesham Building Society. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Chesham Building Society conveyancing panel as a standard part of the process, and to the surveyor when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Chesham Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the Chesham Building Society conveyancing panel solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Liverpool
so that I can pop in to their offices when needed.
As opposed to 12 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Liverpool
.
I would like to get my former partner removed the mortgage deeds. Can Chesham Building Society really tell me which solicitor I can or can not instruct?
You can use any solicitor you like but Chesham Building Society then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Chesham Building Society solicitors panel
Can you point me to a directory of Chesham Building Society panel conveyancers 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.
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.
My fiance and I are in the throws of viewing houses and am about to put in an offer. Is it premature to have a solicitor in place? I intend to finance via a home loan with Chesham Building Society
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Chesham Building Society , make sure you remember to check that your lawyer is on the Chesham Building Society conveyancing panel.