I am selling my home in Mayfair and the estate agent has just called to warn that the purchasers are swapping law firm. The excuse is that the lender will only engage with property lawyers on their approved list. Why would a major mortgage company only deal with specific solicitors rather the firm that they want to select for their conveyancing in Mayfair ?
Lenders have always had an approved set of law firms that can act for them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders point to the increase in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any sway in the decision.
Do all mortgage companies provide you with an approved list of Mayfair conveyancing solicitors? How do you know who is on the Barclays conveyancing panel?
Mayfair conveyancing firms themselves provide us confirmation that they are on the Barclays conveyancing panel as opposed to being supplied with a list from Barclays directly.
Our mortgage company has recommended a law firm on their panel based in Mayfair but I would rather use a conveyancing lawyer in Mayfair local to me. Are you able to help?
Far from all Mayfair conveyancing firms are on all lender’s conveyancing panel. Use our find an approved solicitor tool to find a Mayfair conveyancing conveyancer on the on the lender panel.
Me and my partner are buying a flat in Mayfair. It might be a silly question but how we can trust a solicitor? On the day of competition we have to deposit funds into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am planning to move home in February. Will my conveyancing solicitor communicate with the removal company on the day of completion. Incidentally, can you recommend a removal company in Mayfair. Conveyancing firm was chosen before I stumbled across your website.
On the day of completion you will need to collect the keys from the property agent but this should only happen after the vendors lawyers advise the agent that they acknowledge receipt of the completion payment and the keys can be released. Subsequently you can tell the removal company that they can start moving you in. We are not in a position to recommend a particular removal organisation but can assist you in locating a residential property solicitor in Mayfair or a firm that specialises in conveyancing in Mayfair.
I am the sole recipient of my late grandmother’s will with all property in now in my sole name, including the house in Mayfair. The Mayfair property was put into my name in December. I plan to dispose of the house. I do know about the CML 6 month 'rule', which means that my proprietorship could be treated the same way as if I'd bought the property in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. many mortgage companies would take a pragmatic view as this clause primarily exists to capture subsales or the flipping of properties.
I am selling my house. My previous lawyers have shut. I would be grateful for any recommendation of a conveyancing firm. Im based in Mayfair if that makes things easier.
You should use our search tool to help you choose a solicitor for your conveyancing in Mayfair. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.
My partner has suggested that I instruct his conveyancers in Mayfair. Do I take his recommendation?
There are no two ways about it it’s preferable to select a conveyancing solicitor is to have feedback from friends or family who have used the firm you're contemplating using.