We are purchasing a 1 bedroom apartment in Sefton with a mortgage. We like our Sefton lawyer, however the bank says she’s not on their "panel". It seems we have little option but to use one of the mortgage company panel solicitors or keep our Sefton conveyancing practitioner and pay for one of their panel firms to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. 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. A further alternative is for your Sefton conveyancing lawyer to apply to be on the conveyancing panel.
We note that you have a post code search directory listing law firms on the Co-operative conveyancing panel. Do companies pay you a referral fee if I retain them for our conveyancing in Sefton?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Sefton.
Do the Building Society Association intend to launch a online directory to to identify law firms on the Norwich and Peterborough Building Society conveyancing panel for example in Sefton?
We have not been informed any plans on the part of the BSA to develop such a search facility.
How does conveyancing in Sefton differ for newly converted properties?
Most buyers of new build residence in Sefton contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is built. This is because builders in Sefton tend to buy the real estate, 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 Sefton or who has acted in the same development.
I need to appoint a conveyancing solicitor for freehold conveyancing in Sefton. I have land on a web site which appears to be the ideal solution If it is possible to get all formalities completed via phone that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?