FAQs for the The Chorley & District Building Society Conveyancing Panel
from members of the public
I am expecting a mortgage offer from The Chorley & District Building Society. I intend to enlist the help of a Licensed Conveyancer. Does the The Chorley & District Building Society Conveyancing panel include conveyancers regulated by the CLC
The Chorley & District Building Society’s approved solicitor list is, like many other lenders represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My conveyancer has spotted a difference between the surveyor’s assumptions in The Chorley & District Building Society’s home valuation report and what is in the title deeds. My solicitor says that as he is on the The Chorley & District Building Society conveyancing panel he is duty bound to ensure that the lender is happy with this discrepancy and is still content to lend. Is my conveyancer’s course or action correct?
A precondition to being on the The Chorley & District Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on The Chorley & District Building Society) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Do all the firms listed on your search have online case tracking as I understood that this was a condition of being on the The Chorley & District Building Society conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
I am attempting to get my former partner removed the mortgage deeds. Can The Chorley & District Building Society really tell me which solicitor I can or can not retain?
You can use any solicitor you like but The Chorley & District 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 The Chorley & District Building Society solicitors panel
Is there a list of The Chorley & District 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.
My wife and I have arranged a further advance on our mortgage from The Chorley & District Building Society as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the The Chorley & District Building Society conveyancing panel to deal with the paperwork?
The Chorley & District Building Society would not normally appoint a member of their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the The Chorley & District Building Society list
For 5 years I had a mortgage with The Chorley & District Building Society. My godfather has just retired 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 will it roughly 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.
You
will need a solicitor but they need not be on the The Chorley & District Building Society conveyancing 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. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.