In order to purchase a property with a mortgage, or arranging a remortgage, your conveyancing solicitors usually need to be on the panel of your chosen mortgage lender in order to act for you, as your solicitor will be acting on behalf of your lender as well when arranging the loan advance.
In essence, a lenders’ panel is a list of approved solicitors who are authorised to act on the lenders’ behalf. Firms must meet the lenders’ stringent requirements in order to be accepted onto their panels, which establishes a level of credibility.
Lenders require their own solicitors to ensure that the property and title is properly investigated and that their security over the property is adequately protected. The use of solicitors also minimises the risk of fraud occurring, and it is for this reason that the loan is released to the solicitors and not the borrowers directly.
Our longstanding reputation means that we are trusted by the country’s leading mortgage lenders by gaining admission onto their panels. Below is a (non-exhaustive) list of the mortgage lender panels we currently serve on. If you cannot see your chosen lender below, please contact us – many smaller lenders allow solicitors to join their lender panel if there is a live case.