We are buying a 2 bedroom flat in Bedwas with a mortgage. We like our Bedwas conveyancer, however the bank says he's not on their "panel". It seems we have no option but to select one of the bank panel conveyancing practices or continue with our Bedwas solicitor as well as pay for one of their panel firms to represent them. We consider that this is unjust; is there anything we can do?

Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Bedwas conveyancing lawyer to apply to be on the conveyancing panel.

My wife and I are getting closer to an exchange on a property in Bedwas and my parents have transferred the exchange deposit to my lawyer. I am now informed that as the deposit has been sent from someone other than me my conveyancer needs to make a notification to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to delay the deal?

Your conveyancing practitioner is legally required to clarify with the bank to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.

We're in Bedwas, First time buyers purchasing with a mortgage (lender is Bank of Ireland , and our solicitor is on the Bank of Ireland conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Bank of Ireland conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.

I just bought a property at auction in Bedwas. Conveyancing is necessary. What happens now?

Now that you have to all intents and purposes signed on the dotted line you must instruct a conveyancing lawyer quickly as you now have a pending a drop dead date to complete the purchase. An auction property should have a corresponding auction pack. This will include evidence of title and search results. In the case of leasehold premises the legal pack may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to a leasehold property. You need to give this to your appointed conveyancing solicitor as soon as possible. Do make sure that your finances are organised to complete the transaction on the set completion date.

Can you point me to a directory of Virgin Money panel solicitors in Bedwas on the Council of Mortgage Lender’s Website?

No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings available on the web. Where you are seeking to appoint a Bedwas property lawyer on the Virgin Money please use our facility.

I currently have a mortgage with Virgin Money for my property in Bedwas. Conveyancing has been completed some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Virgin Money?

Your original mortgage agreement with Virgin Money will provide that you need their approval in advance of renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel firm.

What are your top tips when it comes to choosing a Bedwas conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Bedwas conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with several firms including non Bedwas conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:

How experienced is the practice with lease extension legislation? How many lease extensions have they conducted in Bedwas in the last year?

I acquired a studio flat in Bedwas, conveyancing formalities finalised 8 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Bedwas with over 90 years remaining are worth £207,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease terminates on 21st October 2081

With only 57 years remaining on your lease the likely cost is going to span between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.