FAQs for the The Chorley & District Building Society Solicitor Panel from members of the public
A conveyancer I had intended to instruct on a remortgage said he would charge more if my lender is because of their unusual legal requirements. Am I likely to be frustrated using The Chorley & District Building Society? Any comments will be appreciated
The Chorley & District Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the The Chorley & District Building Society conveyancing panel. If they are not, this does add further risk of delay as The Chorley & District Building Society will appoint their own solicitors to look after their interest.
Expecting to move into my new home next Monday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for The Chorley & District Building Society. What risks do The Chorley & District Building Society expect the insurance to cover?
Any lawyer on the The Chorley & District Building Society conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in The Chorley & District Building Society’s Part 2 requirements of the CML Handbook (last updated on The Chorley & District Building Society). Being on the The Chorley & District Building Society conveyancing panel your lawyer is expect to follow these instructions.
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.
My conveyancers in Leeds have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with The Chorley & District Building Society. Is it case that being on the The Chorley & District Building Society conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the The Chorley & District Building Society Conveyancing Panel Terms. It might be worth you contacting The Chorley & District Building Society directly.
Can I be sure that the solicitor on the The Chorley & District Building Society panel is any good?
seeking recommendations is a sensible start. 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 advise that you speak with the solicitor handling your conveyancing
We have agreed a price on a flat I spoke to a solicitor previously used by my dad and he suggested using a law firm approved by The Chorley & District Building Society. The estate agent recommended two local firms so I asked The Chorley & District Building Society if the 2 suggested solicitors are approved, which they are not. The Chorley & District Building Society suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of The Chorley & District 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.
Ask The Chorley & District 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 The Chorley & District 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 The Chorley & District Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet The Chorley & District 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.
My existing mortgage is with The Chorley & District Building Society. My uncle retired last week and wants to pay off the mortgage left on the property. After The Chorley & District Building Society is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the The Chorley & District Building Society conveyancing panel? I do not intend to live at the property once the The Chorley & District Building Society mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the The Chorley & District Building Society panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.