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Ready to buy a new home? Failing to check that a lawyer is on the perenna list of approved solicitors can put your transaction at risk of delay or failure.
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Perenna Conveyancing Panel : Questions and Answers
My mortgage broker has has requested my lawyer’ panel member for the Perenna conveyancing panel. Can you suggest how I discover this. I have tried my local Perenna office but they have not got back to me yet.
the sensible thing to do is ask for this information from your solicitor. They should have a central record lender panel numbers including the Perenna panel reference.
Our solicitor has discovered a legal deficiency with the lease for the apartment we are purchasing. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer says that as he is on the Perenna conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or Perenna?
Just because you have a mortgage offer from Perenna does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Perenna are the client. The appropriate lender requirements have to be complied with by the Perenna conveyancing panel who has to balance acting for you and Perenna
Do I have to pop into the offices of the Perenna conveyancing panel solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Bristol
so that I can attend their offices if necessary.
Whereas this was necessary 15 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Bristol
.
We're in London, First time buyers buying with a mortgage (lender is Perenna , but our solicitor is on the Perenna conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Perenna conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Do conveyancing lawyers on the Perenna conveyancing panel work on a no move no charge basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
is it true that all conveyancing solicitors on the Perenna conveyancing panel regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Perenna conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
My husband and I are in the process of viewing apartments and am about to put in an offer. Is it best to have a conveyancer on ‘stand by’? I will be getting a home loan with Perenna
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Perenna , ask your prospective lawyers check they are on the Perenna conveyancing panel otherwise they can't do the mortgage legal work.
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