Panel solicitor meaning

If you are buying a property with a mortgage, you may be curious about the panel solicitor meaning, and how to find the right conveyancer. A panel solicitor is one who has been approved by a mortgage lender and is on their panel, so that the solicitor is able to represent the lender in a purchase at the same time that they represent the buyer.

It is important to choose a solicitor who is on your lender’s approved panel, as you could face delays and extra expense if you do not.

At Lockings Solicitors, we are on the approved panels of all main mortgage lenders. This means that we can represent you and your lender in your purchase, keeping costs to a minimum and avoiding delays.

If your conveyancer is not a panel solicitor, then you might have to switch to a different law firm partway through your purchase or, alternatively, pay an additional sum so that your lender can instruct their own legal team.

We offer an excellent conveyancing service, providing you with regular updates and working proactively to complete as soon as possible. With over fifty years of experience, we are able to tackle all types of property purchase, including complex and high-value cases.

If you are buying a property with a mortgage and you are wondering about the panel solicitor meaning, call us today, and we will be happy to help. We are panel solicitors for all main lenders, and we offer a FREE initial chat so that you can ask us any questions you may have about buying or selling a property.

Call us on 01482 300 200, email us at welcome@lockings.co.uk or fill in our Free Online Enquiry and we will call you back promptly. We have offices in Beverley, Hull and York and represent clients across the country in freehold sales and purchases. We also deal with leasehold sales and purchases and newbuild purchases for local properties.

What does using a panel solicitor mean?

Using a panel solicitor means choosing a law firm that is endorsed by your lender and is on their panel of approved conveyancers. Before you instruct a solicitor to represent you, it is important to check that your mortgage lender will work with them.

What is the role of a panel solicitor in a property purchase?

A panel solicitor will represent both you and the mortgage lender in your house purchase. They will carry out the usual due diligence work, checking the legal title, going through search results, and raising a wide range of enquiries with the seller’s solicitor.

They will be authorised to report on the property to the lender, confirming that it is good security for the loan.

Do I need a panel solicitor for a property purchase with a mortgage?

You should use a solicitor from your mortgage lender’s approved panel because if you do not and they have to use their own legal team to carry out the necessary work, you will be charged for this. A panel solicitor will be doing the due diligence work anyway, on your behalf, and can work for your lender alongside this.

Alternatively, you could be required to change to a law firm approved by your lender partway through the transaction. This is also likely to incur extra expense, as the original law firm will need to be paid for any work carried out by them.

Both options are likely to delay your purchase. The mortgage lender’s legal team are likely to have a substantial workload, and usually deal with matters in order, so that you could find your purchase in a queue, however urgent it becomes.

Choosing a panel solicitor from the start is strongly recommended.

Why choose Lockings panel solicitors for your purchase?

We move you quickly

Our experienced conveyancing solicitors always work actively to move a transaction forward. This includes staying in close contact with the seller’s solicitors and following up on requests for information regularly.

We have the expertise to handle complications and will tackle them straightaway, reducing the risk of hold-ups.

We are panel solicitors for all main mortgage lenders

We have made sure that we are approved by all major mortgage lenders. This means we can represent you and them in your purchase, reducing costs and delays.

We provide an exceptional service and are rated as Excellent by our clients

We are known for the high level of service we provide. We will make sure that you have regular updates throughout your transaction and that we are available to speak to you as needed. We will take the time to answer your questions thoroughly and discuss anything that might be concerning you.

If you need us to call you at any point, we will always do so promptly.

Our onboarding process is simple

We have a secure online conveyancing portal that you can use to provide us with the initial information we will need from you, if you wish. Alternatively, we are always happy to deal with matters by email or in person at our offices.

Our onboarding process is easy, and if you would like us to handle with your purchase, you can call us now so that we can prepare a file in readiness for when you have a property to buy. Getting a head start can reduce the time taken to reach readiness for the exchange of contracts, particularly if you have a related purchase, as there are property information forms to complete.

We provide clear, straightforward advice

Property law can be confusing, and we will always explain matters clearly, ensuring that you have the information you need to make decisions about your purchase.

We are independently accredited by the Law Society

We hold the Law Society’s Conveyancing Quality Scheme award. This is given to law firms that meet the Society’s high expectations in respect of the provision of quality legal advice, excellent client care, and strong risk management.

Our services are great value for money

Our conveyancing is carried out by experienced conveyancing solicitors, and represent great value for money with 98% saying they would recommend to family and friends

For a no-obligation conveyancing quote, call us today, and we will go through the figures with you.

We offer a free initial chat

We know that you probably have questions about the house purchase process and how to get started with a conveyancing transaction. We offer a free initial chat so that you can ask us any questions you have. If you would like to take this up, please contact us now.

Contact our experienced panel solicitors

If you would like to discuss the panel solicitor meaning or instruct a conveyancer on your lender’s approved list, contact us today.

You can ring us for a FREE initial chat on 01482 300 200, email us at welcome@lockings.co.uk or fill in our Free Online Enquiry and we will call you back promptly. We have offices in Beverley, Hull and York and represent clients across the East Yorkshire and York area and beyond.