I am one month into the sale of my house in North Cornelly and the estate agent has just called to say that the purchasers are changing their solicitor. The reason given is that the lender will only work with property lawyers on their approved list. On what basis would a big named mortgage company only work with specific law firms rather the firm that they want to choose to handle their conveyancing in North Cornelly ?

Mortgage companies have always had panels of law firms they are content to work with, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.

Lending institutions point to the increase in fraud by way of justification for the reduction – 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 says it is hearing daily from firms that have been removed from panels. Plenty of firms 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.

How does conveyancing in North Cornelly differ for newly converted properties?

Most buyers of new build premises in North Cornelly contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is built. This is because builders in North Cornelly typically acquire 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 property lawyers 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 North Cornelly or who has acted in the same development.

I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, no chain conveyancing. North Cornelly is the location of the property. Can you shed any light on this issue?

Flying freeholds in North Cornelly are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in North Cornelly you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in North Cornelly 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.

I'm refinancing my existing property to a BTL loan with Clydesdale and intend to use the remaining equity as a down payment on a second property. The neighborhood we are looking at is North Cornelly. Will your conveyancers be able to act for the two banks and tie in the two deals?

Do use our comparison tool on this page to check that the lawyers are approved by both lenders. On the basis that they are your lawyer should be able to tie up the two transactions but you should have a chat with you solicitor and specify your desired outcome and requirements.

I’m about to sell my basement flat in North Cornelly. Conveyancing has not commenced, but I have just received a quarterly maintenance charge demand – what should I do?

It best that you pay the service charge as usual because all rents and maintenance payments should be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am the registered owner of a split level flat in North Cornelly, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in North Cornelly with an extended lease are worth £192,000. The ground rent is £55 charged once a year. The lease terminates on 21st October 2079

With only 54 years remaining on your lease the likely cost is going to range between £32,300 and £37,400 as well as professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.