I am nearing exchange of contracts for my house in Guildford and the EA has just telephoned to warn that the purchasers are swapping solicitor. The reason given is that the mortgage company will only work with solicitors on their approved list. Why would a leading lender only engage with certain lawyers rather the firm that they want to appoint to handle their conveyancing in Guildford ?

UK lenders have always had an approved set of law firms that can represent them, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.

Banks point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to keep an eye on. 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 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. The purchasers are not going to have any impact on this.

I purchased a freehold premises in Guildford yet charged rent, why is this and what is this?

It is rare for properties in Guildford and has limited impact for conveyancing in Guildford but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.

Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.

My partner and I are selling our property in Guildford and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any local lawyer would know that there is no such problem. It does beg the question why the purchasers are using a nationwide conveyancing firm as opposed to a conveyancing solicitor in Guildford. We have lived in Guildford for many years we know of no issue. Is it a good idea to contact our local Authority to seek confirmation need.

It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)

In surfing the world wide web for the words on line conveyancing in Guildford it shows results of many solicitorsin the area. How do I determine which is the right conveyancing solicitor for purchase transaction?

The best way of seeking the right conveyancer is via personal recommendation, so seek the counsel of colleagues and relatives who have purchased a property in Guildford or a local estate agent or financial adviser. Fees for conveyancing in Guildford differ, so it's advisable to secure at least four costs illustrations from varying types of law firms. Dont forget to clarify that the costs are assured not to increase.

I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Guildford. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Guildford ?

Most houses in Guildford are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Guildford so you should seriously consider shopping around for a Guildford conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your conveyancer will appraise you on the various issues.

I inherited a 1st floor flat in Guildford, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Guildford with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 per annum. The lease ends on 21st October 2095

You have 70 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.