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In respect of lender panels, some of the lenders state you have to do 120 purchasers a year, whilst that does not sound a great deal to a large f conveyancing firm to a small firm it is 10 purchases a month combined with sales, transfers of equity and all other aspects of residential conveyancing. I have also noted in the past few months that two of the commercial panel companies are charging £10.00 plus VAT which is collected by the panels on completion of the mortgage. This is on top of the fee payable each year. I have just requested a document from a Lender whose panel the firm is on, to be told that we are on the Solicitors panel not the Conveyancing panel.
I also note that the old chestnut of solicitors representing mortgage lenders and borrowers has raised its head. If a Conveyancer (I use that term to describe a Solicitor, Legal Executive or Licenced Conveyance) does the job correctly then there should be no problem. There is no conflict as obtaining a clear and unencumbered title is required by both parties. The main problems occur when clients do not report that they are having a loan from the “Bank of Mom and Dad” . Having two Conveyancers to investigate title, searches and all other information will cost clients extra funds. Sometimes it pays to think about the clients financial situation.

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