I am in the process of selling my flat in Surrey and the EA has just telephoned to advise that the buyers are changing their solicitor. The excuse is that the bank will only deal with property lawyers on their conveyancing panel. On what basis would a major lender only engage with specific law firms rather the firm that they want to select to handle their conveyancing in Surrey ?
Lenders have always had panels of law firms that can represent them, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Lenders 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. Banks tend not to reveal 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 are unaware that 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 impact on this.
We were just about to exchange contracts for a garden flat in Surrey. We encountered a problem. The mortgage offer with Coventry Building Society runs out on 25/9/2025 but the owners are putting forward a completion date of 29/9/2025. Is it possible to prolong the loan offer?
The person best placed to deal with your concern is your conveyancer who will hopefully assess whether they corresponding with the bank, seller’s representatives, property agents or indeed all parties taking into account the history of your house move to date.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would much rather instruct a specialised conveyancing solicitor in Surrey?
Do check but the chances are that appoint one of their panel lawyers where you want the "fee-free" offer. Contact the lender and check if they allow a cash alternative. Some lenders have previously offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Surrey.
How does conveyancing in Surrey differ for new build properties?
Most buyers of new build or newly converted property in Surrey come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Surrey typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Surrey or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a house in Surrey before retaining lawyers. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some lenders will refuse to grant a loan on such a home.
It varies from the lender to lender. HSBC has different requirements from Halifax. If you e-mail us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Surrey. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Surrey to see if the conveyancing costs will increase in light of this.
My father has recommend that I instruct his conveyancing solicitors in Surrey. Do I follow his recommendation?
Much as we are happy to recommend a Surrey conveyancing lawyer it’s preferable to choose a conveyancing solicitor is to get guidance from friends or relatives who have actually previously instructed the firm that you are considering.