I am progressing with the sale of my maisonette in Bodmin and the EA has just telephoned to advise that the buyers are swapping law firm. The reason given is that the lender will only deal with solicitors on their approved list. On what basis would a major lender only deal with specific solicitors rather the firm that they want to select for their conveyancing in Bodmin ?

Mortgage companies have always had panels of law firms they are willing to work with, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.

Lenders point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any impact on this.

I am in a contract race with another buyer for a property in Bodmin. What can I do to hasten the legal process?

In a situation where the seller is applying time constraints to exchange we would recommend that your solicitor is familiar with the location as they will have local connections and intelligence. It is even conceivable that they could have conducted previousproperties in the same road. You would be best advised to use a Bodmin conveyancing firm. In addition, double check that the lawyer is on the on the approved list for your mortgage company. It is understood that nearly one in five of Bodmin conveyancing transactions are suspended or jeopardised after finding out that a purchaser’s solicitor was not on their banks member panel. In many cases this discovery resulted in the buying process being held up by as much as three weeks. It is estimated that this issue impacts in the region of one hundred thousand home sales every year. Many Bodmin conveyancing firms can not represent certain lenders so do check at the outset.

How do I discover of the solicitor handling my conveyancing in Bodmin is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Britannia thus spending £175.00 in supplemental conveyancing costs.

You should make use of the find a lender approved solicitor tool on this page. Pick the lender and type ‘Bodmin’ or your location and you will see a number of lawyer offices in Bodmin or near you.

I've recently found out that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Bodmin is the location of the property. Can you offer any advice?

Flying freeholds in Bodmin are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bodmin you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bodmin may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

Am I right to be wary by estate agents that I am dealing with are suggesting a web based conveyancing firm as opposed to a High Street Bodmin conveyancing firm?

As is the case with many service providers, often referrals from connections can be very helpful. But there are numerous people with a keen interest in a conveyancing deal; estate agents, financial adviser and lenders might all put forward solicitors to appoint. Sometimes these solicitors might be known to one of the organisations as being good in their field, but occasionally there may be a commercial relationship behind the recommendation. You are at liberty to appoint your own lawyer. You need to be aware that the majority of lenders specify a panel list of conveyancers you are obliged to use for the mortgage aspect of your transaction.