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Find a West Smithfield Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in West Smithfield? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your West Smithfield conveyancing at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised West Smithfield conveyancers for over 130 lenders.


Recently asked questions about conveyancing in West Smithfield

I am in the process of selling my house in West Smithfield and the EA has just telephoned to advise that the purchasers are swapping conveyancer. The excuse is that the mortgage company will only engage with property lawyers on their conveyancing panel. Why would a big named lender only engage with certain solicitors rather the firm that they want to choose to handle their conveyancing in West Smithfield ?

Lenders have always had panels of law firms they are content to work with, but in the last few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.

Mortgage companies justify this action to a rise in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to reveal 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. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.

AssumingI was to buy a simple residential propertyin West Smithfield for cash and have no survey and no local authority searches how much could I expect to to save on my conveyancing in West Smithfield?

The sole saving you would make on is the disbursement for searches. A solicitor still got to do everything else - money laundering, correspond with the vendors solicitor, stamp duty return, register the property etc. You might save a bit for them not needing to register a charge however it won't be significant.

We're in West Smithfield, FTBs buying with a mortgage (lender is Bank of Ireland , and our lawyer is on the Bank of Ireland conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Bank of Ireland conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.

I am buying my first flat in West Smithfield with the aid of help to buy. The sellers would not move on the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not reveal to my solicitor about the extras as it will affect my mortgage with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

What could I expect to pay for conveyancing in West Smithfield?

Almost all West Smithfield conveyancing firms will charge a set fee. Where further work become due during the transaction your lawyer must inform you in writing of any further fees for any work immediately it becomes foreseeable. Some work on a no completion no cost principle, others will charge a percentage of the agreed fee, calculated based on the point at which the deal does not go ahead.

It is advisable to obtain two or three practices to supply you a quotation.

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