I am six weeks into the sale of my apartment in Newington and the EA has just telephoned to warn that the purchasers are appointing a new solicitor. I am told that this is due to the fact that the bank will only engage with property lawyers on their conveyancing panel. On what basis would a big named lender only deal with certain solicitors rather the firm that they want to appoint for their conveyancing in Newington ?
Banks have always had panels of law firms that can act for them, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms 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. Your buyers are not going to have any sway in the decision.
Me and my partner are soon to exchange buying a property in Newington but as a result of damage from a small fire at the property I have was able negotiate reparation from the owner in the sum of six thousand pounds in the form of a deduction in the price. This was going to be addressed as part of the conveyancing process however Clydesdale will not agree to this. Should they have been approached?
Your solicitor that is on a Clydesdale approved list is required to advise Clydesdale of any changes to the sale price. If you prohibit your lawyer to notify the price change to Clydesdale then they would have to discontinue acting for you. In addition, Clydesdale and you would have to appoint a new conveyancer for your conveyancing in Newington.
We note that you have a post code search directory listing law firms on the Aldermore conveyancing panel. Do companies pay you a commission if I appoint them for our conveyancing in Newington?
We are a listing service only for law firms wishing to communicate if they are on the Aldermore conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Newington.
Various web forums that I have visited warn that are the main reason for stalling in Newington house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of delay in conveyancing in Newington.
I used Action Conveyancing a few years ago for my conveyancing in Newington. I now require my file but the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Newington of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
My wife and I have recently appointed a conveyancing solicitor in Newington. I need to find out if they are listed on the bank's conveyancing panel. Could you advise?
It’s a good idea phone the conveyancer to enquire if they are on the lender's panel. Alternatively please call us and we can make some checks for you. Should the firm not be on the conveyancing panel we can certainly arrange a reputable conveyancing solicitor in Newington on the panel for your lender.