I am selling my home in Fareham and the estate agent has just text me to advise that the buyers are changing their law firm. I am told that this is due to the fact that the bank will only engage with property lawyers on their approved list. Why would a big named mortgage company only work with specific law firms rather the firm that they want to appoint for their conveyancing in Fareham ?

Lenders have always had an approved set of law firms that can act for them, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.

Mortgage companies point to the increase in fraud as the reason for the pruning – 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 claims that it is being contacted daily by practices that have been removed from panels. Some 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. The buyers are unlikely to have any impact on this.

Some advice if I may. My Fareham conveyancer is advising me that he is legally obliged toconduct Fareham conveyancing searches becausethe firm are on the Santandersolicitor panel. These Fareham searches cost a lot of money can this be avoided?

Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a bank your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Fareham conveyancing searches.

My home in Fareham is up for sale and I have a purchaser. Will my solicitor need to be required to be on the Aldermore conveyancing panel in order to deal with paying off my mortgage?

Ordinarily, even if your lawyer is not on the Aldermore conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.

Is it simple use the search tool to choose a conveyancing solicitor in Fareham on the authorised to act for my bank?

1st choose a lender such as Birmingham Midshires, The Royal Bank of Scotland or Clydesdale then choose your preferred area for example Fareham. Conveyancing firms in Fareham and further afield will then be identified.

Is it true that a Fareham conveyancing firm has court proceedings brought against them by a client for failing to conduct comprehensive conveyancing searches?

We are not aware of such a Fareham conveyancing matter but according to a recent report, clients acquiring a property in Cumbria successfully sued their conveyancing practitioner as a consequence of development plans to build a wind farm not being identified in conveyancing searches.

Where you are buying in Fareham It is critical that your conveyancing practitioner carry out all Fareham conveyancing searches necessary making sure that you have relevant and current information before buying a property.