I am nearing exchange of contracts for my ground floor flat in Mayfield and the EA has just called to say that the purchasers are appointing a new property lawyer. The reason given is that the lender will only work with property lawyers on their conveyancing panel. Why would a major mortgage company only work with specific solicitors rather the firm that they want to choose for their conveyancing in Mayfield ?

Lenders have always had panels of law firms they are willing to work with, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.

Lending institutions attribute this action to a rise in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some are unaware that 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 not going to have any sway in the decision.

Can the conveyancing lawyers identified via your search tool perform attended exchange conveyancing in Mayfield?

There are a few conveyancing specialists carrying out attended exchanges. Please e-mail us to obtain a fee calculation and details as to dates.

Why is leasehold purchase conveyancing in Mayfield is more expensive?

Mayfield leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.

Will our conveyancer be asking questions regarding flooding during the conveyancing in Mayfield.

The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Mayfield. There are those who acquire a property in Mayfield, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.

Solicitors are not qualified to offer advice on flood risk, but there are a numerous searches that may be undertaken by the purchaser or by their solicitors which should give them a better understanding of the risks in Mayfield. The conventional set of information supplied to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the vendor to find out if the premises has ever been flooded. If the property has been flooded in past and is not revealed by the owner, then a purchaser may commence a compensation claim as a result of such an incorrect answer. A purchaser’s lawyers should also order an environmental report. This will reveal if there is any known flood risk. If so, further inquiries should be initiated.

I am planning to acquire a property and need a conveyancing solicitor in Mayfield who is on the mortgage company solicitor panel. Can you recommend a Mayfield or local Mayfield conveyancing firm?

Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the mortgage company who conduct conveyancing in Mayfield. We dont recommend any particular firm.