I am nearing exchange of contracts for my flat in Cardiff Bay and the estate agent has just e-mailed to advise that the purchasers are switching solicitor. The reason given is that the lender will only deal with solicitors on their conveyancing panel. Why would a major mortgage company only work with specific lawyers rather the firm that they want to select to handle their conveyancing in Cardiff Bay ?

Banks have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.

Banks point to the increase in fraud by way of justification for the cull – criteria have been narrowed 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 being contacted daily by practices 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. The purchasers are not going to have any sway in the decision.

My conveyancer has identified a a problem with the lease for the property we are purchasing in Cardiff Bay. The other side have put forward title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancing practitioner has advised that he must ensure that the bank is happy with this solution. Who is the client here, us or the mortgage company ?

Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. These conveyancing instructions have to be complied with.

My bank has suggested solicitors on their panel based in Cardiff Bay but I would rather instruct a conveyancing lawyer in Cardiff Bay local to me. Can you help?

The minority of Cardiff Bay conveyancing solicitors are listed all lender’s conveyancing panel. Please make the most of the above search tool to identify a Cardiff Bay conveyancing solicitor on the on the lender panel.

I am purchasing my first flat in Cardiff Bay with the aid of help to buy. The builders refused to budge the amount so I negotiated five thousand pounds worth of extras instead. The estate agent told me not reveal to my conveyancer about this deal as it will adversely affect my mortgage with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I am looking for a leasehold apartment up to £235,500 and identified one close by in Cardiff Bay I like with amenity areas and railway links nearby, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Cardiff Bay in this price bracket, so just wondered if I would be making a mistake buying a short lease?

Should you need a home loan the remaining unexpired lease term will likely be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this.