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approved by perenna
Ready to buy a new home? Failing to check that a lawyer is on the perenna list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Perenna Conveyancing Panel? How can my firm be reinstated onto the Perenna Conveyancing Panel?Find an Approved Solicitor on the Perenna Conveyancing Panel
FAQs for the Perenna Solicitor Panel
What is the rationale as to why all solicitors aren't included on the Perenna Conveyancing panel?
Mortgage companies point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year. The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging less reputable firms off their books
Please help. My conveyancer is assuring me that he has to apply for a Local Authority search stemming from the fact that the firm are on the Perenna conveyancing panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with Perenna your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Perenna’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Perenna. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I am purchasing a flat and need a conveyancing solicitor in London who is on the Perenna conveyancing. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Perenna . We don’t recommend any particular firm.
My uncle passed away six months ago and as sole heir and executor was left the property. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Perenna , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Perenna will insist on your using a conveyancer on the Perenna conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Perenna conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Perenna mortgage is registered as a charge at the Land Registry.
What are the common reasons for a lender such as Perenna to withdraw a mortgage offer?
Lenders such as Perenna can withdraw their mortgage offer although this is unusual. should Perenna withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are 5 examples:
- If the borrower informs Perenna of a change in security address
- Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Perenna conveyancing panel solicitors would be obliged to notify Perenna of a change in the price of the property.
- Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
- Where the Lender’s right to possession is fettered in some way
- If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
I currently have a mortgage with with Perenna. Conveyancing has been completed a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Perenna?
Perenna must be informed of your intention prior to renting your property as this is likely to be a breach of Perenna’s mortgage conditions. It may be that Perenna will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Perenna directly. You need not do this via a Perenna conveyancing panel lawyer.
I was told two weeks ago that my mortgage has been agreed
to by Perenna. Is it usual for Perenna to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Perenna to deal with your lawyers application to be on the Perenna conveyancing panel. There's no guarantee that your solicitors will be accepted.
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Transfer of Equity for PerennaPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors