I am nearing exchange of contracts for my house in Marlow and the EA has just text me to warn that the purchasers are changing their property lawyer. The excuse is that the bank will only deal with solicitors on their conveyancing panel. On what basis would a major lender only work with specific solicitors rather the firm that they want to select for their conveyancing in Marlow ?
UK lenders have always had panels of law firms they are willing to work with, but in recent years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Banks point to the increase in fraud as the reason for the reduction – criteria have been stiffened 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. 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 buyers' case. The purchasers are unlikely to have any sway in the decision.
We were just about to exchange contracts for a leasehold flat in Marlow. We encountered a problem. The loan offer with HSBC Bank expires on 22/9/2025 but the owners are putting forward a completion date of 24/9/2025. Can one extend the mortgage offer?
The person best placed to deal with your question is your conveyancer who should assess if they better off negotiating with the lender, seller’s conveyancers, selling agents or conceivably all parties taking into account what has gone on in your conveyancing to date.
My wife and I are close to exchanging contracts on the sale of our property in Marlow and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any high street Marlow conveyancer would know that there is no such problem. For the life of me I don't know why the buyers are using a nationwide conveyancing outfit as opposed to a conveyancing solicitor in Marlow. Having lived in Marlow for many years we know of no issue. Do we contact our local Authority to obtain confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
How does conveyancing in Marlow differ for newly converted properties?
Most buyers of new build premises in Marlow contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is constructed. This is because builders in Marlow usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Marlow or who has acted in the same development.
My company is wishing to take over a lease of an office on the high street. Can you recommend lawyers offering competitive costs for commercial conveyancing in Marlow for below 2k?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Marlow, including the sale and purchase of businesses as well as simply premises. If you are looking to acquire or lease a shop, pub, restaurant, office, retail premises or a whole business we will put you in touch with the right lawyer. Regarding the charges these will vary based on the structure and heads of terms of the proposed transaction. Let us have your details or email us so that we can provide you with a fixed commercial conveyancing quote.
My step-father has suggested that I instruct his lawyers for conveyancing in Marlow. Should I choose my own solicitor?
No doubt the best way to find a conveyancing lawyer is to get referrals from friends or family who have actually experience in using the firm you're contemplating using.