I am in the process of selling my home in Belper and the EA has just called to advise that the purchasers are swapping conveyancer. The excuse is that the mortgage company will only deal with property lawyers on their conveyancing panel. Why would a big named lender only deal with certain lawyers rather the firm that they want to select for their conveyancing in Belper ?
UK 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 acted for them for more than 15 years.
Lending institutions blame a rise in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to monitor. No lender will say 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. Some 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. The buyers are unlikely to have any sway in the decision.
Our son is in the process of securing a new build apartment in Belper with a mortgage from Bank of Ireland. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Bank of Ireland conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Can your site be used to find a Conveyancing solicitor in Belper even if I’m not purchasing or selling a house, for example where I want to buy a shop in Belper with a mortgage from Clydesdale?
The service is predominantly used to find domestic conveyancing solicitors in Belper but we have recorded at the end of this page some Belper commercial conveyancing firms. You should enquire with the firm directly to check if they are also authorised to represent Clydesdale
I have 70 years unexpired on my lease and require a lease extension for my apartment in Belper. Conveyancing solicitors on the Platform panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 19/7/2024 the requirements read as follows :
Should I be concerned about 3rd parties that I am dealing with are encouraging me to use a national conveyancing firm as opposed to a High Street Belper conveyancing firm?
As is the case with lots of service providers, often input from family and friends can be worth their weight in gold. Yet there are lots of players in a conveyancing deal; estate agents, financial adviser and banks might all put forward lawyers to instruct. On occasion these conveyancers might be known to one of the organisations as experts in their field, but sometimes there exists a commercial relationship behind the endorsement. You are at liberty to choose your preferred lawyer. Don't forget that some banks have an approved list of law firms you have to use for the mortgage related work in your home move.