Perenna Solicitor Panel Example Support Desk Enquires from members of the public
I am selling my maisonette and the EA has just e-mailed to warn that the purchasers are swapping law firm. The reason given is that Perenna will only deal with solicitors on their approved list. On what basis would a leading mortgage company only work with certain solicitors?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. 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, or have other concerns about them. 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 buyer’s case. Your purchasers are unlikely to have any sway in the decision.
I am due to complete my purchase next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for Perenna. What risks do Perenna expect the insurance to cover?
All property lawyers on the Perenna conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Perenna’s Part 2 requirements of the CML Handbook (last updated on Perenna). Being on the Perenna conveyancing panel your lawyer is expect to follow these instructions.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Perenna conveyancing panel. My lawyer has said that they are on the Perenna approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Perenna conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Perenna solicitor panel.
I am buying a right to buy flat and getting a mortgage with Perenna. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Perenna conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Perenna conveyancing panel in your location.
Can you point me to a directory of Perenna panel conveyancers on the CML Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
Are all solicitors on the Perenna conveyancing panel regulated by the SRA?
As solicitors, in order to be on the Perenna conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
My brother and I have had an offer accepted on a apartment I spoke to a solicitor recommended by my mum and he suggested using a property lawyers approved by Perenna. The estate agent recommended two local firms so I asked Perenna if the 2 suggested solicitors are approved, which they are not. Perenna suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Perenna 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Perenna for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Perenna conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Perenna conveyancing panel as it may only take about 2-3 weeks. As long as they meet Perenna’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.