I am progressing with the sale of my home in Dunstable and the EA has just e-mailed to say that the buyers are switching property lawyer. The excuse is that the mortgage company will only engage with solicitors on their conveyancing panel. Why would a major mortgage company only work with certain law firms rather the firm that they want to select to handle their conveyancing in Dunstable ?

Lenders 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 HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.

Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to reveal 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 impact on this.

Due to complete my purchase in Dunstable next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the bank. What does the insurance need to cover?

All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These obligations are not limited to conveyancing in Dunstable.

Why do I have to pay up front when it comes to conveyancing in Dunstable?

If you are buying a property in Dunstable your lawyer will request that you put them with funds to cover the search fees. Ordinarily this is requested to cover the fees of the Local Authority Search. If any deposit is as part of the total price then this should be needed shortly prior to contracts are exchanged. The final balance that is needed should be sent to your lawyer a couple of days prior to the day of completion.

I completed on my flat on 9 October and the transaction details is yet to be on the land registry website. Need I be worried? My conveyancing solicitor in Dunstable said it will be registered inside ten days. Are transfers in Dunstable uniquely lengthy to register?

There is nothing unique when it comes to conveyancing in Dunstable registration formalities. Rather than based on location, timeframes can differ according to who lodges the application, whether there are errors and if the Land registry communicate with any interested persons or bodies. As of today in the region of three quarters of submission are completed within 12 days but occasionally there can be extensive delays. Registration is effected once the purchaser has moved in to the premises so registration formalities is not usually an essential issue but if it is urgent that the the registration takes place urgently then you or your conveyancer should communicate with the Registry to express the reasoning for an expedited registration.

How does conveyancing in Dunstable differ for new build properties?

Most buyers of new build property in Dunstable contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is completed. This is because developers in Dunstable tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Dunstable or who has acted in the same development.