My husband and I are hoping to acquire a house in Stamford and have appointed a Stamford conveyancing practice. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Alliance & Leicester have this morning contacted us to advise us that they have now hit a problem as our Stamford solicitor is not on their conveyancing panel. Is this a problem?
If you are buying a property needing a mortgage it is standard for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Stamford lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
My Solicitor in Stamford has never been on on the Halifax Approved Panel. Can I still use my prefered solicitor notwithstanding that they are not on the Halifax panel?
The limited options open to you here include:
- Carry on with your preferred Stamford lawyers but Halifax will need to use a conveyancer on their panel. This will inevitably rack up the total conveyancing charges and result in delays.
- Choose a new practitioner to to deal with the conveyancing, obviously checking they are Halifax approved.
- Try to convince your Halifax solicitor to try to join the Halifax panel
My business partner and I are wishing to lease a unit on the high street. Can you recommend solicitors offering no-move-no fees for non-domestic conveyancing in Stamford for below £1,200?
We are happy to recommend firms who have well rounded knowledge of commercial conveyancing in Stamford, including the disposal and purchase of businesses as well as simply property. Whether you are looking to purchase or lease a shop, pub, restaurant, office, retail unit or a complete business we can put you in touch with the right lawyer. Regarding the costs these will vary based on the structure and heads of terms of the proposed transaction. Please provide us with your contact information or email so as to enable us to provide you with a fixed commercial conveyancing calculation.
My partner has suggested that I use his lawyers for conveyancing in Stamford. Should I use them?
There are no two ways about it it’s preferable to select a conveyancing solicitor is to seek feedback from friends or relatives who have previously instructed the solicitor you're considering.
Me and my partner are purchasing a three room housein Stamford with a mortgage from a lender. We would like to retain our lawyer in Stamford yet our mortgage company advise she’s not on their "panel". It seems we have little choice but to instruct from the our bank panel solicitors or keep our Stamford conveyancer and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The lender home loan offered to you is subject to conditions, one of which will be that lawyers will on the bank's conveyancing panel. in the past, most mortgage companies had large numbers of law firms on their panels, including almost all conveyancing solicitors in Stamford : 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 solicitors to apply to be on the conveyancing panel for your mortgage company.