Conveyancing – Lenders’ Panels

Posted by John on May 10, 2011 under Choosing a Solicitor | Comments are off for this article

Is your conveyancing solicitor on your lender’s mortgage panel?

If not you could end up paying additional legal fees.

This is because your bank (if you’re buying with a mortgage) will want a solicitor to register their interest (security) in the property.  If your solicitor is on your bank’s panel then they can act for both you and the bank.

If not there will be extra fees to pay to instruct separate solicitors for the bank.   It also means there is more chance of things going wrong as there is another law firm to be kept in the loop.

That’s why it’s important to check whether your solicitor is on the bank’s panel.  And if you’re instructing your solicitor before you’ve chosen your lender make sure that they are on the panel for all the major banks and can act for any bank you are seriously considering for your mortgage.

By checking in advance you can save yourself a lot of hassle and potentially several hundred pounds in legal fees and expenses.  The recommended solicitors on our panel act for all the major banks.

Click here for instant quotes from our recommended conveyancing solicitors.