I am in the process of selling my flat in Saxilby and the estate agent has just called to advise that the purchasers are swapping solicitor. I am told that this is due to the fact that the lender will only deal with property lawyers on their approved list. On what basis would a major lender only engage with certain solicitors rather the firm that they want to choose to handle their conveyancing in Saxilby ?

Lenders have always had an approved set of law firms that can represent them, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.

Mortgage companies blame a rise in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. 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. 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. Your purchasers are not going to have any sway in the decision.

I am the registered owner of a freehold house in Saxilby but still pay rent, why is this and what is this?

It is rare for properties in Saxilby and has limited impact for conveyancing in Saxilby 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.

Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.

What happens if my solicitor is removed from the HSBC Conveyancing panel ahead of completing my conveyancing in Saxilby?

First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.

I've recently found out that there is a flying freehold issue on a house I have offered on last month in what should have been a straight forward, no chain conveyancing. Saxilby is the location of the property. Can you shed any light on this issue?

Flying freeholds in Saxilby are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Saxilby you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Saxilby may ascertain 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 residence.

Why can I not complete our conveyancing in Saxilby on Easter Monday?

Because on completion the funds will pass between the banks of the purchaser and seller's conveyancing practitioner and currently this can only take place on a working day. It is not possible to complete on a saturday or sunday either.