I am one month into the sale of my home in Blyth and the EA has just e-mailed to warn that the purchasers are swapping solicitor. The reason given is that the lender will only engage with solicitors on their conveyancing panel. Why would a big named lender only work with certain solicitors rather the firm that they want to choose for their conveyancing in Blyth ?

Banks have always had an approved set of law firms that can act for them, but in recent years big names such as Santander, 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 attribute this action to a rise in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms 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 purchasers are unlikely to have any sway in the decision.

Is there a reason why leasehold purchase conveyancing in Blyth is more expensive?

Blyth leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.

What happens if my solicitor is removed from the Nottingham Conveyancing panel ahead of completing my conveyancing in Blyth?

First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

Is there a list of Coventry BS panel solicitors in Blyth on the UK Finance Lenders’ Handbook Website?

No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lending institutions make their panel listings visible on the web. If you are looking for a Blyth conveyancing practitioner on the Coventry BS please use our tool.

Is it the case that all Blyth solicitors on the RBS conveyancing panel are governed by the SRA?

As solicitors, in order to be on the RBS conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Some banks do permit licenced conveyancers on their panel in which case such organisation would be overseen by the Council of Licensed Conveyancers.

TSB have agreed my mortgage in principle, my offer on a house in Blyth has been accepted, now what?

The property agent will need to be advised as to your lawyer's details (ensure that the property lawyers are on the bank’s panel). Contact TSB or the broker and complete any outstanding documentation. TSB will sellect a valuer who will get in contact with the estate agent or seller to arrange a slot for the valuation to take place. Once conducted (assuming no problems) it takes on average a week to get a mortgage offer. TSB will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Blyth.

I'm purchasing a new build house in Blyth benefiting from help to buy. The developers would not budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not inform my conveyancer about the extras as it would impact my mortgage with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer 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.