I am in the process of selling my home in Filey and the estate agent has just telephoned to warn that the buyers are switching property lawyer. The reason given is that the bank will only deal with solicitors on their approved list. Why would a major mortgage company only work with specific law firms rather the firm that they want to choose to handle their conveyancing in Filey ?

Banks have always had an approved set of law firms they are willing to work with, but in the past few years big names such as HSBC, 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 pruning – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.

We have a mortgage agreed in principle with Nationwide. Filey conveyancing solicitors were appointed. How long does it take for Nationwide to issue the offer to the lawyer?

There is no definitive answer here. Have Nationwide completed the valuation? Have you informed Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.

I am selling my house. I had a double glazing fitted in January 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Bank of Ireland are being problematic. The Filey solicitor who is on the Bank of Ireland conveyancing panel is recommending indemnity insurance as a solution but Bank of Ireland are insisting on a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?

It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.

I have instructed a Filey lawyer having made sure that they are on the HSBC conveyancing panel. Does my lawyer arrange the survey of the property?

HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Filey postcode. As you are getting a mortgage with HSBC, you could contact them to see if they have a list of approved surveyors in Filey.

Will my lawyer be raising enquiries about flooding as part of the conveyancing in Filey.

Flooding is a growing risk for lawyers specialising in conveyancing in Filey. Some people will purchase a house in Filey, completely aware that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.

Solicitors are not qualified to give advice on flood risk, but there are a numerous searches that can be undertaken by the purchaser or by their conveyancers which can figure out the risks in Filey. The conventional set of completed inquiry forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the seller to determine if the property has ever been flooded. If flooding has previously occurred and is not disclosed by the owner, then a purchaser could commence a claim for damages as a result of such an inaccurate reply. A purchaser’s lawyers will also order an enviro report. This should higlight if there is any known flood risk. If so, further inquiries should be carried out.

3 months have gone by since my purchase conveyancing in Filey completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

How does conveyancing in Filey differ for newly converted properties?

Most buyers of new build premises in Filey contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is finished. This is because developers in Filey usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Filey or who has acted in the same development.