I am progressing with the sale of my house in Downend and the estate agent has just text me to warn that the buyers are appointing a new solicitor. The excuse is that the mortgage company will only work with solicitors on their approved list. Why would a big named lender only work with specific lawyers rather the firm that they want to choose for their conveyancing in Downend ?

Mortgage companies have always had panels of law firms that can represent them, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.

Mortgage companies blame a rise in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that 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. The buyers are not going to have any sway in the decision.

I require fast conveyancing in Downend as I am under a deadline to exchange contracts in less than 4 weeks. Fortunately I do not require a mortgage. Can I avoid the conveyancing searches to save money and time?

As you are are a mortgage free buyer you have the choice not to do searches although no law firm would advise that you don't. Drawing on years of experience of conveyancing in Downend the following are examples of issues that can show up and therefore affect the marketability of the property: Enforcement Notices, Overdue Charges, Overdue Grants, Railway Schemes,...

2 months have elapsed following my purchase conveyancing in Downend concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

Due to the input of my in-laws I had a survey completed on a property in Downend ahead of instructing solicitors. I have been told that there is a flying freehold element to the house. My surveyor has said that some mortgage companies will refuse to grant a loan on such a home.

It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. If you contact us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Downend. Conveyancing may be slightly more expensive based on your lender's requirements.

I own a leasehold flat in Downend. Conveyancing was finished in 21012. I have heard that I mustn’t allow the the remaining lease term to fall too short. Is this right?

Downend domestic long term leases are for a set period - normally ninety nine years when they started. However a significant flats in Downend were constructed or converted 20 or more years ago and so such leases now have under 80 years unexpired. That may seem like a long time but Banks, Building Societies and other mortgage lenders tend to require leases to have a minimum of 75 years left to adequate security. Accordingly when you come to sell the property you will need a lease extension if you are nearing 75 years. To enhance your property value you should be thinking about whether or not to extend your lease long before you come to sell it. Furthermore significant benefits to doing so before the lease reaches even eighty years as when the lease is less than eighty years the premium to be paid to extend starts to get a lot more expensive.