I am selling my flat in Fenny Stratford and the EA has just text me to advise that the purchasers are swapping solicitor. The reason given is that the mortgage company will only work with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only work with certain law firms rather the firm that they want to choose for their conveyancing in Fenny Stratford ?

Mortgage companies have always had panels of law firms they are willing to work with, but in the last few 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.

Banks point to the increase in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that 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. The purchasers are not going to have any sway in the decision.

In the event thatI were to buy a simple residential homein Fenny Stratford mortgage fee and dispense with a survey and no conveyancing searches how much would I expect to have to pay for conveyancing in Fenny Stratford?

Any savings you would make will be isolated to the Fenny Stratford conveyancing searches. Your property lawyer still be obliged to do everything else - money laundering, correspond with the sellers lawyer, stamp duty return, register the property etc. You might save a bit for them not needing to register a charge but it will not be significant.

The estate agent has sent us the confirmation of our purchase of a new build apartment in Fenny Stratford. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Fenny Stratford

There must be mutual enforceability of lessee’s covenants. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.

How do I search for a Fenny Stratford solicitor on the Platform Home Loans Ltd conveyancing panel? I have a car and am prepared to travel upto 25miles to meet the conveyancer.

You can use the tool on this page. Please pick a mortgage company and your location and you will see a number of Fenny Stratford conveyancing lawyers locally. We have listed some Fenny Stratford conveyancing firms at the bottom of this page and you can call them to see if they are on the Platform Home Loans Ltd panel

I've recently bought a leasehold flat in Fenny Stratford. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Leasehold Conveyancing in Fenny Stratford - Sample of Questions you should consider before buying

The answer will be useful as a) areas can cause problems for the block as the communal areas may begin to deteriorate if repairs are not paid for b) if the leasehold owners have a dispute with the running of the building you will want to have all the details If a Fenny Stratford lease has less than 80 years it will have adverse implications on the value of the apartment. Check with your lender that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease at some point and it is worth discovering what this would cost. Remember, in most cases you will be be obliged to have been the owner of the property for two years before you are eligible to extend the lease.