I am nearing exchange of contracts for my house in Monmouthshire and the EA has just e-mailed to warn that the purchasers are swapping property lawyer. The excuse is that the lender will only deal with property lawyers on their conveyancing panel. On what basis would a big named lender only deal with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Monmouthshire ?

Banks have always had an approved set of law firms they are content to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.

Lending institutions blame a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms 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.

In reading moneysavingexpert.com for a recommended lawyer in Monmouthshire, most say that I should instruct a CQS accredited solicitor. What is CQS?

The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to best practice conveyancing procedures through the scheme protocol Membership covers numerous firms who conduct conveyancing in Monmouthshire.

How does conveyancing in Monmouthshire differ for newly converted properties?

Most buyers of new build property in Monmouthshire approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Monmouthshire tend to buy the site, 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 conveyancing solicitors 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 used to new build conveyancing in Monmouthshire or who has acted in the same development.

I am looking for a flat up to £235,500 and found one near me in Monmouthshire I like with open areas and railway links in the vicinity, however it's only got 49 years unexpired on the lease. I can't really find anything else in Monmouthshire for this price, so just wondered if I would be making a grave error buying a short lease?

If you require a home loan the shortness of the lease will likely be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.

I am 17 days into a leasehold purchase having been recommend to conveyancers by the estate agent to carry out the conveyancing in Monmouthshire. I am am extremely frustrated with the level of service. Could you help me find new conveyancers?

A conveyancer would need to be very poor in order to consider diss instructing them. Has your mortgage been sent? In the event that it has you will need to make them aware of the new contact details and ensure the mortgage documents are re-sent. Your solicitor ideally should be on the banks panel to avoid escalating charges and complications. So that should be your starting point. The find a solicitor tool should assist you in finding a lender approved conveyancer for your home move in Monmouthshire