I am 3 weeks into the sale of my maisonette in Epping and the EA has just called to say that the purchasers are changing their conveyancer. The reason given is that the lender will only deal with solicitors on their conveyancing panel. Why would a major lender only engage with certain solicitors rather the firm that they want to select to handle their conveyancing in Epping ?
Mortgage companies have always had panels of law firms they are content to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lenders blame a rise in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to keep an eye on. 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. 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 not going to have any impact on this.
We note that you have a post code search directory identifying solicitors on the Kent Reliance conveyancing panel. Do firms pay you a referral fee if I instruct them for our own conveyancing in Epping?
We are a listing service only for law firms wishing to communicate if they are on the Kent Reliance conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Epping.
My Solicitor in Epping is not on the HSBC Bank Conveyancing Panel. Is it possible for me to retain my family solicitor even though they are not on the HSBC Bank panel?
The limited options open to you here include:
- Complete the purchase with your existing Epping lawyers but HSBC Bank will need to retain a lawyer on their panel. This will result in additional total conveyancing charges as well as cause delays.
- Get an alternative practitioner to to deal with the conveyancing, remembering to check they are on the HSBC Bank panel
Hoping to buy a property located in Epping and I am already nervous. I couldn't find anything specific about Epping. Conveyancing will be needed in due course but do you know about the Epping area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Epping. In the meantime here are some basic statistics that we found
I need to find a conveyancing solicitor for purchase conveyancing in Epping. I have discover a web site which looks to be the perfect offering If there is a chance to get all this stuff done via email that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?