I am nearing exchange of contracts for my flat in Aldwych and the EA has just text me to say that the buyers are changing their law firm. The reason given is that the lender will only work with solicitors on their approved list. Why would a big named mortgage company only deal with certain law firms rather the firm that they want to appoint for their conveyancing in Aldwych ?

Banks have always had an approved set of law firms that can represent them, 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 acted for them for many years.

Banks blame a rise in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to oversee. No lender will say 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. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any sway in the decision.

My wife and I are purchasing a newly constructed flat in Aldwych and my solicitor is advising me that she is duty bound to the mortgage company to disclose incentives from the seller. I am nearing the developer’s deadline to sign contracts and my preference is not to delay the conveyancing. is my lawyer playing by the book?

You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.

We note that you have a search directory identifying law firms on the Barclays conveyancing panel. Do companies pay you a referral fee if I appoint them for our own conveyancing in Aldwych?

We are a listing service only for law firms wishing to communicate if they are on the Barclays conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Aldwych.

We're in Aldwych, FTBs purchasing with a mortgage (lender is Lloyds , and our solicitor is on the Lloyds conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Lloyds conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no 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.

How easy is it to swap conveyancer as I need to instruct a firm on the Nottingham Building Society conveyancing panel. I instructed a local conveyancing solicitor in Aldwych five minutes from me but she is not accepted by Nottingham Building Society

It would be our pleasure to assist you find a conveyancing solicitor in Aldwych on the Nottingham Building Society panel. Please note that the law firms that we work with do not pay us a referral fee if you instruct them and are authorised and regulated by the SRA who oversee all conveyancing solicitors in Aldwych. Using search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Aldwych.