Looking for information about your firm's panel status?
The Chorley & District Building Society Solicitor Panel Information:
What are the The Chorley & District Building Society conveyancing panel arrangements?
Unlike the CML the Building Society Mortgage Instructions deal with this. Section A.12 states ‘In order to act on our behalf your firm or company must be a member of our conveyancing panel provided we are a society that operates one – see specific requirements for details of our arrangements.
The Special Requirements state:
No set panel but any firm wanting to act for CDBS must meet the specific requirements set out below.
Specific Requirements
1. Law Society or CLC member
2. Minimum of 2 partners or directors
You must also comply with the terms and conditions of your The Chorley & District Building Society solicitor panel appointment.
I am hearing that agents are using online checkers to see if a firm is on a lender panel. Why?
Many estate agents are suffering if their clients start out on the conveyancing process having appointed a solicitor who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors lawyers.
Do you have any idea what Lenders such as The Chorley & District Building Society are asking for when it comes to applying to be on their approved conveyancing panel?
Although not necessarily published, lenders have varying criteria .
We do not hold specific requirements relating to the questions raised as part of the application to be on the The Chorley & District Building Society conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):
- List of all those who fund the firm, including non-lawyers if applicable
- Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers
- Whether the firm has ever knowingly accepted instructions on transactions involving Sale and Rent Back, Back to Back, Exchange and Delayed Completion and Lease Option, Below Market Value.
- List of all those who can sign off the Certificate Of Title
- The percentage of the firm’s business which is conveyancing purchase and remortgage
- Whether the firm is able to operate in other jurisdictions
- Solicitor client account(s) details
- Full career history for each solicitor including admission date to the relevant Law Society
- List of all solicitors within firm
Are the Council of Licensed Conveyancers taking any action to protect licensed conveyancers from being removed from lender panels?
The CLC has initiated discussions with lenders and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than ad hoc arrangements that can differ from lender to lender. It is likely that that the CLC have been in touch with lenders such as The Chorley & District Building Society since 2008 which is when lenders started being more restrictive
What type of firms do building societies accept on their conveyancing panel?
In the same way that there is a unique The Chorley & District Building Society conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement.
Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis.
My PI renewal application this year contained the following question: ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the BSA Mortgage Instructions?’ My firm is on a number of approved panels including the The Chorley & District Building Society conveyancing panel. We have Terms and Conditions of appointment which we are duty bound to comply with. Do I disclose these these Terms?
The key here is the caveat ‘more onerous’.
You have to try and take an objective view as to whether the Terms relating to the The Chorley & District Building Society conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the BSA Mortgage Instructions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.
I rarely receive a copy of a valuation from a lender these days. Does the extent of my The Chorley & District Building Society conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with The Chorley & District Building Society as the lender?
There are various requirements you need to follow if you wish to comply with your lender client’s instructions as set out in the BSA Mortgage Instructions. (I) You must take reasonable steps to verify that there are no discrepancies between the description of the property as compared to an out of date postal address or DX details.
What lender panels do you receive the most questions about?
BSA lenders do not come within the top 20 lenders in terms of
frequency of questions. The most popular lender panels in terms of
questions are as follows:
Find a Lawyer on the The Chorley & District Building Society Solicitor Panel
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Average number of days to register title including a charge in favour of The Chorley & District Building Society
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited The Chorley & District Building Society Firms
- Draft Report on Title precedent for The Chorley & District Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for The Chorley & District Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the The Chorley & District Building Society lender panel
- Buy-to-Let help for The Chorley & District Building Society
- Consent-to-Let help for The Chorley & District Building Society
- Contractor Mortgages with The Chorley & District Building Society
