When buying a property with a mortgage, it is important to choose a panel solicitor who is authorised to represent your lender. At Lockings Solicitors, we are on the approved panel for all major lenders. This allows us to represent them in your purchase transaction at the same time that we represent you. Below, we answer the question, what is a panel solicitor, and explain why it is important to use one when you purchase a property.
We hold the Law Society’s Conveyancing Quality Scheme award, which certifies that we meet their high standards in respect of giving good quality legal advice, managing risk and providing excellent client care.
We offer a FREE initial chat so that you can ask us any questions you may have and discuss the timescale for your transaction.
If you are looking for a conveyancer on your lender’s solicitors’ panel, 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.
A panel solicitor is one who is authorised to represent your mortgage lender in a purchase transaction. The lender will have approved them to act on their behalf and deal with the necessary due diligence work, including checking that the legal title to the property is sound, carrying out any required searches and providing a certificate stating that the lender’s criteria are met.
Using solicitors approved by the mortgage lender helps your transaction to move seamlessly and reduces the risk of delays.
Should you choose a conveyancer who is not a panel solicitor, you might have to switch law firms partway through the transaction. Alternatively, your lender might require you to pay for them to instruct their own legal team. Both of these options will cause delays and extra expense.
Our conveyancing solicitors work proactively right from the start of your transaction to move matters along effectively. Where we require information from the other side, we will always follow up regularly, ensuring that nothing is forgotten that could cause a hold-up.
We keep in touch with the estate agents, and if you have a related sale, we will also chase the buyer’s solicitors frequently to check that they are progressing their end of the transaction.
Our conveyancing solicitors have a high level of expertise and, should a legal complication arise, we have the experience to manage it promptly and efficiently. Issues can arise if less experienced conveyancers are used, as they may not have the knowledge to resolve difficulties straightaway. If a delay occurs, there could be a risk that other parties in the chain will pull out.
We are approved by all main lenders to represent them in purchase transactions. This means that we can carry out the due diligence work that they require at the same time as we do this work for you, saving both time and expense.
Throughout your time with us, we will make sure that you know what stage of the transaction has been reached and what is due to happen next. If we require anything from you, we will give you as much notice as we can. For example, once we are nearly ready to exchange contracts, we will ask you for the deposit so that we can ensure we have cleared funds ready to use. If you are tying in a sale, we will be able to use the deposit from that transaction.
If you have any questions, we are always happy to take the time to answer them and to discuss any concerns you may have. We are easy to contact and responsive; if you ask us to ring you, we will always do so promptly.
We hold the Law Society’s Conveyancing Quality Scheme accreditation. We are also rated as Excellent by our clients and hold over 900 Google reviews. Of clients questioned, 98% would recommend us to their friends and families.
We know that legal issues are not always straightforward, and we will ensure that our advice to you is in plain English. Our guidance will be clear and useful, so that if you need to make a decision, you will have all of the information you need to do so.
Conveyancing is carried out by solicitors with a high level of expertise, and our services are great value for money. If you would like a no-obligation conveyancing quote, call us today, and we can go through all of the figures with you. We can include expenses such as search fees and Stamp Duty so that you know exactly how much to budget for.
We are panel solicitors for all major lenders, including the following:
The length of time taken to buy a house can vary. Generally, the longer the chain, the longer it can take, as it is necessary to wait until everyone involved is ready to go ahead.
At Lockings, we always try to move matters forward effectively, and by checking in with the other parties regularly, we aim to ensure that outstanding questions are not forgotten and that everyone is focused on reaching the exchange of contracts without unnecessary delays.
If you want to complete quickly, it can help to instruct a solicitor early on so that you can deal with the initial paperwork upfront. This means that once the chain is in place, your solicitor will be able to start work straightaway, as soon as the contract papers are received.
If you are looking for approved panel solicitors, we will be happy to assist. We offer a prompt and efficient service, and always aim to reach the exchange of contracts without delay.
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.
If you are a customer of Lockings Solicitors and we have contracted with you online you may be entitled to use the EU Online Dispute Resolution (ODR) Platform to assist in resolving any dispute with us. This service can be found at https://ec.europa.eu/odr.
Our email address is welcome@lockings.co.uk
Lockings Solicitors is a trading name of Lockings Legal Services Limited registered in England and Wales company registration number 09244568. Lockings Legal Services Limited is authorised and regulated by the Solicitors Regulation Authority (Main Office SRA ID number 626081). A list of our directors is available for inspection at all our offices. Use the following link https://www.sra.org.uk/solicitors/standards-regulations/
for online access to the current professional rules applicable to solicitors. All calls are recorded for training and quality purposes.
The content on this website is for information only and is not intended to provide specific legal advice to a particular case. Should you require legal advice in relation to your particular situation then please do not hesitate to contact us.
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