The Chorley & District Building Society Conveyancing Panel : Questions and Answers from members of the public
I need to swap lawyers as my lawyer is not on the The Chorley & District Building Society panel of conveyancing solicitors. How easy is it to change conveyancer?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
We are nearing an exchange and my parents having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender The Chorley & District Building Society. Apparently, being on the The Chorley & District Building Society conveyancing panel and acting on their behalf he must inform The Chorley & District Building Society if the balance of the mortgage advance is not just from me. I advised the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with The Chorley & District Building Society to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to The Chorley & District Building Society if you agree, failing which, your lawyer must cease to continue acting.
I see that you have a search directory listing firms on the The Chorley & District Building Society conveyancing panel. Do firms pay you a commission if I appoint them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the The Chorley & District Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My conveyancers in Liverpool have advised me that they can not locate my conveyancing file. At the time of 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 prescribed period?
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.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the The Chorley & District Building Society conveyancing panel?
Some major banks and building societies now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
Is it the case that all solicitors on the The Chorley & District Building Society conveyancing panel regulated by the SRA?
As solicitors, in order to be on the The Chorley & District Building Society conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
What are the common reasons for a lender such as The Chorley & District Building Society to withdraw a mortgage offer?
Banks and Building Societies such as The Chorley & District Building Society can withdraw their mortgage offer although this is unusual. If The Chorley & District Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are 5 examples:
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
- Where the Lender’s right to possession is fettered in some way
- If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
- 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