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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
Q and A’s regarding the Perenna Conveyancing Panel
I am progressing with the sale of my house and the estate agent has just called to say that the purchasers are changing their conveyancer. The excuse is that Perenna will only work with solicitors on their conveyancing panel. On what basis would a big named lender only engage with specific law firms?
Lenders have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lenders blame a rise in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Perenna will not agree to this. Why was Perenna even consulted?
Your lawyer being on the Perenna conveyancing panel is duty bound to inform Perenna of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Perenna then they would have to discontinue acting for you and Perenna.
I am buying a property and require a conveyancing solicitor in London who is on the Perenna solicitor. Could you point me in the right direction as regards a 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.
The firm that I appointed last week on my house acquisition in Hendon has suddenly shut down. I only went with them because I needed a solicitor on the Perenna conveyancing panel and my family lawyer was not. I gave them a cheque for £150 in advance. What are my options?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Perenna conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help
Last month we had a mortgage agreed in principle with Perenna. Solicitors have been instructed? How long does it take for Perenna to send the offer to our conveyancer
There is no definitive answer here. Have Perenna conducted the survey? Have you advised Perenna as your lawyers details and checked that your lawyer is on the Perenna conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
My fiance and I are spending time looking at flats and now considering a potential offer. Is it premature to have a solicitor in place? I will be getting a home loan with Perenna
It would be sensible to have your start your search soon rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Perenna , make sure you remember to check that your lawyer is on the Perenna conveyancing panel.
I had an offer accepted on a property on the 12th March 2014, valuation was booked five days after, received a clean bill of health. Conveyancer instructed, so all that was missing was my mortgage offer. Having made daily calls to Perenna and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Perenna conveyancing panel. Can the lender hold off the offer?
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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