I am six weeks into the sale of my maisonette in New Eltham and the estate agent has just e-mailed to warn that the purchasers are switching 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. On what basis would a big named lender only deal with certain law firms rather the firm that they want to choose to handle their conveyancing in New Eltham ?

Mortgage companies have always had panels of law firms that can represent them, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.

Mortgage companies point to the increase in fraud by way of justification 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 says it is being contacted daily by practices 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. The buyers are unlikely to have any sway in the decision.

I have been referred to a conveyancing solicitor in New Eltham. I I would like to check whether they are accepted on the Platform Home Loans Ltd approved list of lawyers. Can you help?

The first thing to do is call your conveyancer and enquire whether they are on the lender panel. Alternatively you can call Platform Home Loans Ltd who may be able to help.

What is the difference between a licensed conveyancer and conveyancing solicitor in New Eltham

There are two types of lawyers who can execute conveyancing in New Eltham namely CLC regulated conveyancers or solicitors. The two can provide conveyancing services that you need to complete the disposal or purchase of property. Both are duty bound to perform New Eltham conveyancing to the same quality and guidelines so you can be safe in the knowledge that your conveyancing will be professionally carried out and that the necessary procedures will be accurately adhered to.

How can we tell if a New Eltham conveyancing solicitor on the Clydesdale panel is any good?

When it comes to conveyancing in New Eltham getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer handling your transaction.

I had an offer accepted on an apartment in New Eltham on 23/2/2024, valuation was booked five days later, all came back fine. Conveyancer instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Virgin Money and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Virgin Money conveyancing panel. Are Virgin Money entitled to hold back the Mortgage pending the lawyer being on the approved list?

Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Virgin Money to deal with your lawyer's application to be on the Virgin Money conveyancing panel. There's no guarantee that your solicitor will be accepted.

I have been told that property searches are the primary reason for obstruction in New Eltham house deals. Is that correct?

The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Local searches are not likely to feature in any slowing down conveyancing in New Eltham.

After what seems like an age I have had an offer on an maisonette in New Eltham agreed to, the seller does nevertheless have an associated purchase. The vendors have offered on a flat, however it’s not been accepted yet, and are looking at other flats booked. I have instructed a local conveyancing lawyer in New Eltham. What should be my next step? When do I get the mortgage application with Principality started with Principality?

It is standard to have concerns where there is a chain as you are unlikely to want to incur costs too early (home loan application is in the region of £1k, then survey, New Eltham conveyancing search fees, etc). The first thing to do is check that your solicitor is on the Principality approved list. Regarding the subsequent steps this very much depends on the uniqueness of your transaction, desire for the property and on the state of the market. In a rising market the majority of purchasers will apply for a home loan with Principality and arrange for the survey and only if it comes back ok would they pay their lawyer to press on with the conveyancing in New Eltham.