What is a Lloyds lender conveyancing panel?
Your mortgage lender (in this case Lloyds Bank) will have an approved list of solicitor firms that they encourage you to use for your conveyancing. This is because those solicitors fit the criteria that Lloyds sets, and they are all firms they trust. This is to try and reduce the chance of any complications with your purchase or remortgage.
What happens if I don’t choose a conveyancing solicitor who is on a managed panel?
If you decide to use a conveyancing solicitor that isn’t on the Lloyds conveyancing panel then you may need to pay for their legal representation as well which would result in spending hundreds of pounds more than you budgeted for.
By using a solicitor that is on their panel, you won’t need to pay for separate legal representation for both yourself and your mortgage lender.
How do I know if my solicitor is on the panel?
The easiest way to check whether your chosen solicitor is on the Lloyds approved conveyancing panel is to submit the solicitor to the bank or ask your mortgage advisor. You can also check the Lloyds website to see if they have an updated list of their approved panel.
How do I find a solicitor on the Lloyds lender conveyancing panel?
The easiest way to find a trusted, experienced conveyancing solicitor or licensed conveyancer is to get a quote using reallymoving’s quick quote form. You’ll be sent quotes from up to 4 conveyancing firms in your area. Of these, you can check directly who is registered with the Lloyds lending panel, or ask your mortgage provider.
Frequently Asked Conveyancing Questions
What is the average cost of a conveyancing solicitor?
According to reallymoving data,
the average cost of conveyancing services is around £2,038 including fees and disbursements.
Is it better to use a local solicitor for conveyancing?
No! though you may personally prefer to use a local solicitor, conveyancing can be carried out form anywhere, so don’t be concerned about choosing a solicitor from further away.
Can you negotiate solicitors fees?
It is possible to negotiate on conveyancing fees, if you have a sound understanding of your case and of property law. However the best way to secure a good deal on fees is so compare prices when initially seeking a solicitor.
How do I choose a good conveyancing solicitor?
When
comparing solicitors, consider factors such as their legal accreditations, client reviews, and experience with your local property market, not just their fees.
Do all solicitors charge the same for conveyancing?
No, not all solicitors will charge the same so it’s important to compare firm’s fees. Remember, you can choose a conveyancing solicitor from anywhere, they don't have to be local.
Reallymoving is a comparison site that allows you to find conveyancing solicitors for your house move or remortgage. We are not affiliated with Lloyds and are not on the Lloyds conveyancing panel ourselves. We cannot guarantee that every solicitor quoted by us will be on the Lloyds panel, so be sure to ask when contacting your chosen solicitor.
For solicitors wishing to join the Lloyds panel, you must go to the bank directly.