I am selling my maisonette in Gosforth and the estate agent has just e-mailed to advise that the purchasers are changing their solicitor. The reason given is that the mortgage company will only engage with solicitors on their conveyancing panel. On what basis would a leading mortgage company only engage with certain law firms rather the firm that they want to appoint for their conveyancing in Gosforth ?

Mortgage companies have always had panels of law firms that can represent them, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.

Lenders blame a rise in fraud by way of justification for the pruning – criteria have been tightened 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. 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 sway in the decision.

What does my ID and proof of funds have anything to do with my conveyancing in Gosforth? Why is this being asked of me?

In order to comply with Money Laundering Regulations any Gosforth conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account showing your correct address.

In accordance with Money Laundering Regulations, conveyancers are obliged by law to investigate not only the ID of conveyancing clients but also the origin of fund that they receive in respect of any matter. An unwillingness to disclose this may result in your lawyer terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.

Your property lawyers will have an obligation to inform the appropriate authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.

I note that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when acquiring a residence in Gosforth? or Apparently there is a law dating back centuries that means some owners of property living in a parish church boundary will be compelled to contribute towards maintenance to the chancel in proximity to the church. Is this suitable for conveyancing in Gosforth?

Unless a prior acquisition of the house completed post 12 October 2013 you could take it that conveyancing practitioners conducting conveyancing in Gosforth to continue to suggest a chancel search and or chancel repair liability policy.

I am purchasing a new build house in Gosforth benefiting from help to buy. The developers would not move on the price so I negotiated £7000 of additionals instead. The sale representative suggested that I not disclose to my solicitor about this side-deal as it would affect my mortgage with Yorkshire Building Society. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I am a negotiator for a long established estate agency in Gosforth where we have experienced a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Gosforth conveyancing firms. Could you confirm whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Leasehold Conveyancing in Gosforth - A selection of Questions you should consider before Purchasing

Make sure you investigate if there is anything that is prohibited in the lease. For instance it is reasonably common in Gosforth leases that pets are not permitted in in a block in Gosforth. If you like the apartmentin Gosforth yet your cat can’t make the move with you then you will be faced hard choice. Who manages the block?