I am progressing with the sale of my house in Hackney and the estate agent has just e-mailed to warn that the buyers are changing their property lawyer. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their approved list. Why would a leading mortgage company only deal with certain law firms rather the firm that they want to select for their conveyancing in Hackney ?

Banks have always had panels of law firms they are willing to work with, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.

Lenders justify this action to a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to oversee. 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 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. The buyers are not going to have any sway in the decision.

I own a freehold property in Hackney but still charged rent, why is this and what is this?

It’s unusual for properties in Hackney and has limited impact for conveyancing in Hackney but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.

Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.

Should my solicitor be raising questions about flooding during the conveyancing in Hackney.

The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Hackney. Plenty of people will purchase a property in Hackney, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Conveyancers are not qualified to impart advice on flood risk, however there are a number of searches that may be carried out by the purchaser or by their solicitors which can figure out the risks in Hackney. The conventional set of information supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the seller to discover if the property has suffered from flooding. In the event that flooding has previously occurred which is not disclosed by the seller, then a purchaser may commence a compensation claim as a result of such an misleading reply. A purchaser’s solicitors may also order an enviro report. This will higlight if there is any known flood risk. If so, additional inquiries will need to be initiated.

I have recentlydiscovered that Wolstenholmes have been shut down. They carried out my conveyancing in Hackney for a purchase of a leasehold flat 9 months ago. How can I establish that my home is in my name in the name of the former proprietor?

The quickest method to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Hackney conveyancing specialists.

I have been on the look out for a flat up to £305k and identified one round the corner in Hackney I like with open areas and transport links nearby, however it only has 49 remaining years left on the lease. There is not much else in Hackney for this price, so just wondered if I would be making a grave error buying a short lease?

If you require a mortgage that many years may be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you could ask them to 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 solicitor regarding this.