I am five weeks into the sale of my flat in Great Sankey and the estate agent has just text me to warn that the purchasers are switching solicitor. The reason given is that the lender will only deal with property lawyers on their conveyancing panel. Why would a major mortgage company only engage with certain solicitors rather the firm that they want to select to handle their conveyancing in Great Sankey ?

Banks have always had an approved set of law firms that can act for them, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.

Mortgage companies point to the increase in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to oversee. Banks tend not to disclose 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 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 not going to have any sway in the decision.

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

To satisfy the Money Laundering Regulations any Great Sankey conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility bill showing where you reside.

Under Money Laundering Regulations, conveyancing solicitors are obliged by law to ascertain not only the ID of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this will result in your conveyancer ending their retainer 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 notify the appropriate authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.

It has been three months since my purchase conveyancing in Great Sankey concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

In my capacity as executor for the will of my grandmother I am disposing of a property in Newport but reside in Great Sankey. My solicitor (approximately 260 miles awayrequires that I execute a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing lawyer in Great Sankey who can witness this legal document for me?

strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are Great Sankey based

I own a 1 bedroom flat in Great Sankey, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Comparable flats in Great Sankey with a long lease are worth £165,000. The ground rent is £45 invoiced every year. The lease comes to an end on 21st October 50

With just 50 years left to run we estimate the premium for your lease extension to range between £36,100 and £41,800 plus legals.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information 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. Neither should you move forward based on this information without first seeking the advice of a professional.