Can you clarify what the consequences are if my lawyer’s firm is removed from the HSBC Solicitor panel ahead of completing my conveyancing in Padstow?

First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

Does a directory service exist listing HSBC panel solicitors in Padstow on the Building Society Association’s Website?

Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available over the internet. Where you are in need of a Padstow property lawyer on the HSBC please make the most of our facility.

After much negotiation I have agreed a price on an apartment in Padstow. My mortgage broker pressured me to appoint their property lawyer. I paid an advanced payment of £175. Not long after, the conveyancer contacted me sheepishly admitting that they were not on the Nationwide conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the Nationwide panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

My offer was accepted on a property in Padstow on 23/8/2024, valuation was booked 4 days after, all came back fine. Solicitor retained, so all that was missing was my mortgage offer. Having made daily calls to HSBC and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the HSBC conveyancing panel. Can the lender hold off the offer?

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

I have been advised by a number of selling agents in Padstow to locate a property lawyer on your site. Is there a financial inducement for Estate Agents to recommend your site over another?

We refuse to make any financial incentive for directing people to this site. We thought it would be too underhand to pay a commission as members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.

I am 18 days into a residential purchase having been recommend to conveyancers by the estate agent to perform conveyancing in Padstow. We are not happy. Can you you assist me in finding new lawyers?

They would need to be very bad in order to consider diss instructing them. Has the mortgage offer been generated? If so you must make them aware of the replacement lawyer and get the offer are re-issued. The solicitor ideally needs to be on the banks panel to avoid added charges and frustration. That should be your first question of the new lawyers. Our search tool can assist you in finding a lender approved lawyer for your home move in Padstow

What advice can you give us when it comes to choosing a Padstow conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Padstow conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with several firms including non Padstow conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:

If they are not ALEP accredited then why not?

I own a basement flat in Padstow, conveyancing formalities finalised in 1997. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Padstow with a long lease are worth £211,000. The average or mid-range amount of ground rent is £45 levied per year. The lease runs out on 21st October 2091

With only 67 years left to run the likely cost is going to be between £10,500 and £12,000 plus professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.