I am selling my apartment in Elephant and Castle and the EA has just text me to advise that the buyers are changing their law firm. I am told that this is due to the fact that the lender will only engage with solicitors on their approved list. Why would a big named lender only work with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Elephant and Castle ?

Banks have always had an approved set of law firms that can represent them, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.

Lending institutions point to the increase in fraud by way of justification for the cull – 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 says it is being contacted daily by practices that have been removed from panels. Plenty of firms 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. Your buyers are unlikely to have any impact on this.

My lawyer has identified a defect with the lease for the apartment we are purchasing in Elephant and Castle. The seller’s lawyers have put forward defective title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancing practitioner says that he must be satisfied that the lender is content with this solution. Are we the client or is the mortgage company ?

Even though you have a mortgage offer from the bank does not mean to say that the property will meet their conditions 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 bank are the client. The appropriate lender provisions have to be complied with.

Are the BSA intent on creating a search tool with a view to to identify law firms on the Norwich and Peterborough Building Society conveyancing panel for instance in Elephant and Castle?

We have not been informed any intention on the part of the BSA to develop such a tool.

My conveyancer has informed me that lack of right of way insurance is needed on my purchase. What is the level of cover for Elephant and Castle conveyancing?

The right level of lack of right of way indemnity insurance should be dictated by who your lender. It would differ for example between Santander and Leeds Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.

My wife and I are spending time looking at flats in Elephant and Castle and I am about to put in an offer. Is it too early to have a solicitor in place? I will be getting a home loan with Lloyds.

It would be advisable to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. As you are getting a mortgage with Lloyds, make sure you remember to check that your lawyer is on the Lloyds conveyancing panel.

My sealed bid on a semi in Elephant and Castle has been agreed to, but there is a chain. The sellers have placed an offer on a property, however it’s not yet tied up, and have viewings of other properties booked. I have selected a bricks and mortar conveyancing solicitor in Elephant and Castle. What should be my next step? When should I get the mortgage application with RBS going?

It is understandable to have concerns where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is in the region of one thousand pounds, then valuation, Elephant and Castle conveyancing search charges, etc). First, you must ensure that your conveyancer is on the RBS conveyancing panel. As to the next phase this very much depends on the circumstances of your transaction, desire for this property and on the state of the market. In a buoyant market the majority of home buyers would apply for a home loan with RBS and pay for the valuation and only if it was satisfactory would they request their conveyancing practitioner to move forward with searches.

I'm converting the mortgage on my existing home to a buy to let loan with Nottingham Building Society and I will use the ballance of the raised equity as a deposit on further house. The location we are talking about is Elephant and Castle. Will your solicitors be able to act for both sets of mortgage companies and tie in the transactions?

Make use of our search tool on this site to ensure that the conveyancers are on the appropriate lender panels. Assuming that they are your conveyancer should be able to simultaneously deal with the two deals but you should have a chat with you solicitor and communicate your desired outcome and needs.