I am in the process of selling my home in Bow Street and the EA has just called to say that the purchasers are swapping solicitor. The reason given is that the bank will only deal with property lawyers on their approved list. On what basis would a big named lender only engage with certain solicitors rather the firm that they want to appoint for their conveyancing in Bow Street ?

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

Mortgage companies point to the increase in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices 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 purchasers are unlikely to have any sway in the decision.

is it true that all Bow Street solicitors on the Co-operative conveyancing panel are overseen by the SRA?

As solicitors, in order to be on the Co-operative conveyancing panel they would need to be regulated by the SRA. The majority of lenders do list licenced conveyancers on their panel and in such a situation the firms would be overseen by the Council of Licensed Conveyancers.

We have a mortgage agreed in principle with UBS. Bow Street conveyancing lawyers are selected. How long does it take for UBS to forward the offer to the conveyancing practitioner?

Some lenders take longer than others. Have UBS conducted the valuation? Have you informed UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.

I have finally had an offer on a maisonette in Bow Street agreed to, the vendors do nevertheless have an associated purchase. The vendors have offered on a flat, however it’s not yet tied up, and are looking at other apartments in the pipeline. I have instructed a local conveyancing solicitor in Bow Street. What do I do now? When should I get the mortgage application with Barclays going?

It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is approx £1k, then survey, Bow Street conveyancing search charges, etc). First, you must check that your conveyancer is on the Barclays conveyancing panel. Concerning the subsequent steps this very much dictated by the specifics of your case, desire for the property and on the state of the market. During a buoyant market some home buyers would apply for a home loan with Barclays and arrange for the valuation and only if it was satisfactory would they pay their solicitor to proceed with searches.

I used Arc property Solicitors several years past for my conveyancing in Bow Street. Now, I need the files but the law firm has closed. What do I do?

You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Bow Street of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.

I have been on the look out for a flat up to £305k and found one near me in Bow Street I like with open areas and transport links nearby, the downside is that it only has 52 remaining years left on the lease. There is not much else in Bow Street for this price, so just wondered if I would be making a grave error buying a lease with such few years left?

If you need a mortgage the shortness of the lease may be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.

Should I be concerned that 3rd parties that I am dealing with are suggesting a web based conveyancing firm as opposed to a High Street Bow Street conveyancing firm?

As with many professional services, often recommendations from connections can be most helpful. Nevertheless there are numerous parties with a keen interest in a conveyancing deal; estate agents, mortgage brokers and banks might all suggest solicitors to retain. Sometimes the lawyers might be known to one of the organisations as experts in their field, but sometimes there might be a commercial relationship behind the endorsement. You have the right to choose your preferred lawyer. You need to be aware that many mortgage providers specify a panel list of solicitors you must use for the mortgage related work in your transaction.