It depends typically developers will have their own panel and banks their own lawyers.

It's better to keep these lawyers separate esp. if the S&P cost is borne by the developer.

Personally I have no issue with the Banks Panel lawyers cause if there is a screw up you can hold them both accountable.

They can't finger pointing each other because the lawyers are recommended by the bank therefore neither party can pass the buck off so easily.

Actually who’s paying the lawyers fees, TS or the bank. If TS is paying, the lawyers should represent his interest in a dispute. Failure by the lawyers to represent their client’s best interest is a breach of fiduciary duties.

IMHO as a first timer you shouldn’t be rushing. Since you've paid a deposit, could you secure a loan on time? You'll have to pay penalty or risk getting your booking cancelled if the banks take too long to give you a loan.

Furthermore if you are really keen on getting a property fast you should have contacted the bank first and got a conditional pre-approved loan to speed things up before placing a deposit.

Exactly the reason why the banks panel lawyers will not want to piss-off the Banks Customers... remember:-

Who is the paymaster? - You the loan applicant...

Who is the customer? - You again...

I’m no stranger to screw-ups when the loan lawyers sent the disbursement check to a wrong address. I got slapped with a late payment by the developer, made sure the lawyers pay for their mistake.

Sauce

Let’s be clear getting one lawyer or separate lawyers is beside the point, if you get incompetent lawyers you're screwed

Always follow-up and ensure things are done to your satisfaction is the best advice I can give

Good to hear all the best dude

This post has been edited by aaronpang: May 5 2008, 11:10 PM