Lenders Conveyancing Panels
The majority of people purchasing properties do so with the benefit of a mortgage. The usual position is that the purchasing solicitor will act for both the purchaser and the purchaser’s lender i.e. The Bank or Building Society providing the mortgage.
The Lender will only permit this if the solicitor acting is on their approved Lenders Conveyancing Panel.
Therefore, the instruction of an authorised Solicitor at an early stage is essential for the efficient and smooth running of your conveyancing transaction.
There are increasingly strict criteria which the various lenders impose upon Solicitors to allow them to gain access to these panels. Therefore, not every Solicitor can act for a purchaser and their mortgage company in these transactions. Lenders and Clients increasingly prefer those firms that carry out and have experience of significant volume of conveyancing transactions with systems and contingencies plans in place to ensure stability, experience and efficiency are at the forefront of the process.
Consequently, we at P.A.Duffy and Company are on the panels of all major Lenders.