I am nearing exchange of contracts for my house in Downton and the estate agent has just text me to advise that the buyers are changing their property lawyer. The reason given is that the mortgage company will only work with solicitors on their approved list. Why would a big named mortgage company only engage with specific law firms rather the firm that they want to appoint to handle their conveyancing in Downton ?

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

Banks justify this action to a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say 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 do not even realise 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.

Our lawyer has identified a a legal deficiency with the lease for the property we are purchasing in Downton. The seller’s lawyers have suggested title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancing practitioner has advised that he must ensure that the mortgage company is willing to move forward with this solution. Who is the client here, us or the bank?

The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancer will have no choice but to discontinue acting for you.

The Downton conveyancing solicitors that just started acting on my purchase in Downton have suddenly closed. I only went with them because I needed a solicitor on the Leeds Building Society conveyancing panel and my previous Downton lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What should be my next steps?

Assuming that you have an Estate Agent in the equation then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Leeds Building Society conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.

My uncle has suggested that I instruct his conveyancing solicitors in Downton. Do I follow his guidance?

Much as we are happy to recommend a Downton conveyancing lawyer the ideal way to choose a conveyancing solicitor is to have feedback from friends or family who have actually experience in using the solicitor you're contemplating using.

What advice can you give us when it comes to appointing a Downton conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Downton conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Downton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be helpful:

What volume of lease extensions have they completed in Downton in the last 12 months?

I am the registered owner of a split level flat in Downton, conveyancing formalities finalised in 1996. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Downton with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2087

You have 62 years left to run we estimate the premium for your lease extension to range between £17,100 and £19,800 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.