We are planning to buy a 3 bedroom apartment in Lewisham with a mortgage. We have a Lewisham solicitor, but the lender says she’s not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our Lewisham conveyancing practitioner as well as pay for one of their panel ones to represent them. This feels very unfair; can we not demand that the lender use our Lewisham conveyancer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Lewisham conveyancing lawyer to apply to be on the conveyancing panel.
Can the conveyancing solicitors that are recommend handle auction conveyancing in Lewisham?
There are a number of auction solicitors we can put you in touch with those who can conduct auction conveyancing. Lewisham is one of hundreds of locations in which our lawyers have a presence.
Various web forums that I have frequented warn that are the primary cause of stalling in Lewisham conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances during the legal transfer of property. Searches are not likely to be the root cause of slowing down conveyancing in Lewisham.
How does conveyancing in Lewisham differ for new build properties?
Most buyers of new build property in Lewisham come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is completed. This is because builders in Lewisham usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Lewisham or who has acted in the same development.
Whilst your website is a good idea there are many lawyers listed near Lewisham being on the lender conveyancing panel. Can you recommend a specific firm on the lender approved panel?
We do not recommend specific Lewisham firms as the right Lewisham conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Lewisham knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..