This is true for the perfection of transfer but not for the perfection of charge. The financier will not assign cases to non-panel solicitors and would prefer to have the previous solicitors who handle the loan documents to attend to the perfection of charge unless special circumstances arises (such as this) and even with the newly appointed solicitors, a fresh letter of undertaking is required to be issued to the financier before they will assign the case to the new solicitors' firm.

Also, if the original title is still with the developer, they will not release the title to the perfection of transfer solicitor as the Developer have previously issued an undertaking to the financier only to release same to the financier's solicitors. So, if the previous financier's solicitors are no longer in practice, the Developer will most likely deliver the title to the financier in which case, paragraph 1 will apply.