Chesham Building Society Solicitor Panel Example Support Desk Enquires from members of the public
On what basis could a law firm be removed from the Chesham Building Society approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been removed from a lender panel. The most common 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
I am buying a brand new flat and my lawyer is informing me that she has to disclose incentives from the seller as her firm is on the Chesham Building Society conveyancing panel. I am on a tight deadline to exchange and my preference is not to delay matters. Can I insist on an exchange regardless of what my lawyer says about being on the Chesham Building Society panel?
You should not exchange unless you have advised to do so by your lawyer. 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). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Whilst your website is a good idea there are many lawyers listed near Chelsea on the Chesham Building Society conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Chesham Building Society ?
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..
The firm that just started acting on my house acquisition in Brighton has suddenly closed. I chose them because I needed a firm on the Chesham Building Society conveyancing panel and my preferred lawyer was not. I paid them £200 on account. What are my options?
If you have an estate agent involved then let them know straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would 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
Is it the case that all conveyancing solicitors on the Chesham Building Society conveyancing panel work on a no move no charge basis?
In the main there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
My brother and I have had an offer accepted on a flat I spoke to a conveyancer previously used by my mum and he recommended instructing a solicitor 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 suggested 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. Lenders have them all over the country. 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 recently had an offer accepted on an apartment. My financial adviser recommended their conveyancers I paid an upfront payment of 225. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Chesham Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Chesham Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.