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approved by Chelsea BS
Ready to buy a new home? Failing to check that a lawyer is on the Chelsea BS list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Chelsea Building Society (a trading name of Yorkshire BS) Conveyancing Panel
FAQs for the Chelsea Building Society Conveyancing Panel
How easy is it to change a solicitor as I need to find one who is on the Chelsea Building Society conveyancing panel. Is it advisable to appoint a new law firm?
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.
I am purchasing a newly built flat and my conveyancer is advising me that she is duty bound to reveal incentives from the developer as her firm is on the Chelsea Building Society conveyancing panel. I am nearing the developer’s deadline to sign contracts and my preference is not to prolong the conveyancing. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Chelsea Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Chelsea 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.
Are there any apps to help search for a local solicitor on the Chelsea Building Society conveyancing panel? I have a car and am prepared to travel up to 10 kilometers to meet the solicitor.
You can use the find a conveyancing panel search on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Chelsea Building Society solicitor panel.
My grandmother passed away six months ago and as sole heir and executor was left the house. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Chelsea Building Society , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Chelsea Building Society will insist on your using a conveyancer on the Chelsea Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Chelsea Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Chelsea Building Society mortgage is registered as a charge at the Land Registry.
When it comes to lenders such as Chelsea Building Society do lawyers have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I am about to exchange contracts on a purchase with a mortgage from Chelsea Building Society. The report from my solicitor mentions that Chelsea Building Society could withdraw their offer before completion. Is this right?
Banks and Building Societies such as Chelsea Building Society can withdraw their mortgage offer although this is unusual. If Chelsea Building Society withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are various possible reasons but here are a few examples:
- If the borrower informs Chelsea Building Society of a change in the loan amount agreed
- Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Chelsea Building Society conveyancing panel solicitors would be obliged to notify Chelsea Building Society of a change in the price of the property.
- A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
- 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
It is not clear whether my mortgage offer requires a lease extension . I have telephoned Chelsea Building Society on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Chelsea Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Chelsea Building Society panel she or he must comply with the CML Handbook requirements for Chelsea Building Society. Unless your lawyer obtains specific confirmation in writing that Chelsea Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Chelsea Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.