Help solicitor not on lenders panel

bikeman17

So an offer has been accepted on a leasehold flat.
Got a MIP and been recommended a local solicitor by the broker.

After speaking to the solicitor, he tells me his not on lenders panel however he can liaise with lenders solicitor but there would be an extra £125 + vat.
His overall £200-300 cheaper compared to others.

What do you advice shall I stick with him or look elsewhere?

If I don't go with him, where would you recommend I look to source a London Solicitor?

glosoli

Personally I would go with a solicitor that is on your bank's approved legal panel, as everything your solicitor does will have to be quality checked by the lender's solicitor, and it complicates the matter and adds additional timescales onto the process. It is not worth it to save £300.

sammyjammy

It will likely slow down the process somewhat. Did you chose this firm for a reason other than the price? If not I would ask who is on the lenders panel and pick one of those.

kinger101

Use another solicitor. Makes life easier.

bikeman17

sammyjammy wrote: »

It will likely slow down the process somewhat. Did you chose this firm for a reason other than the price? If not I would ask who is on the lenders panel and pick one of those.

It was recommended by the broker as I did not have anyone myself.

G_M

Choose a local solicitor who is on your lender's panel.

bikeman17

Is there a website you recommend I can find my local solicitor?

Josephiney83

I agree get a solicitor on your lender's panel. I have just exchanged and our buyer's solicitor was not on the panel and it added a layer of complexity that really derailed and slowed the process down.

glosoli

bikeman17 wrote: »

Is there a website you recommend I can find my local solicitor?

http://solicitors.lawsociety.org.uk/?Pro=True

Set it to Conveyancing - Residential

hazyjo

Happened to me. They used a separate solicitor for the financials. Did mean a last min dash 30 or so miles to the second solicitor the night before exchange.

I always now choose one on the panel. Wasn't a nightmare or anything, but why add to the stress. It's bad enough as it is.

G_M

bikeman17 wrote: »

Is there a website you recommend I can find my local solicitor?

Walk down your local high street. Go into 3 different solicitors' offices and ask to see a conveyancing solicitor about a quote.

The response you get, and the person you get to speak to, will tell you a lot about whether you feel comfortable with the firm.

Explain your needs (including the mortgage lender's name!) in detail and see what quote you get.

Take the 3 quotes home and compare them carefuly (do they all include the same things? eg does one of them not include completing the SDLT form?). Consider also which firm was most helpful, easiest to talk to etc.

Then choose one.