I am selling my flat in Umberleigh and the EA has just e-mailed to warn that the purchasers are switching solicitor. The excuse is that the lender will only deal with solicitors on their conveyancing panel. On what basis would a big named lender only deal with specific lawyers rather the firm that they want to choose to handle their conveyancing in Umberleigh ?
Lenders have always had panels of law firms they are content to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Lenders blame a rise in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to disclose 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. Plenty of firms 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. Your purchasers are unlikely to have any impact on this.
Due to move into my new home in Umberleigh next Thursday. My conveyancer now wants me to supply her with proof of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What risks does the mortgage company expect the insurance to cover?
Any lawyer on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These requirements are not specific to conveyancing in Umberleigh.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Umberleigh. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 21/1/2026, the requirements read as follows :
I'm purchasing my first flat in Umberleigh with the aid of help to buy. The sellers refused to reduce the amount so I negotiated 6k of extras instead. The estate agent advised me not inform my lawyer about this side-deal as it may adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, no chain conveyancing. Umberleigh is where the house is located. Is there any guidance you can impart?
Flying freeholds in Umberleigh are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Umberleigh you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Umberleigh may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My husband and I are planning to purchase a three bedroom apartmentin Umberleigh with a loan from a mortgage company. We would like to retain our lawyer in Umberleigh yet our lender advise he's not on their "panel". It seems we have little choice but to instruct from the our lender panel solicitors or keep our Umberleigh solicitor and pay for one of their panel ones to represent our mortgage company. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The bank mortgage issued is subject to its terms and conditions, one of which will be that lawyers will on the lender's conveyancing panel. in the past, most banks had open panels, including almost all conveyancing solicitors in Umberleigh : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for your bank.