I am selling my apartment in Ironbridge and the estate agent has just telephoned to say that the buyers are swapping law firm. I am told that this is due to the fact that the bank will only work with solicitors on their conveyancing panel. On what basis would a leading mortgage company only deal with specific law firms rather the firm that they want to choose to handle their conveyancing in Ironbridge ?

Mortgage companies have always had an approved set of law firms that can act for them, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.

Mortgage companies blame a rise in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to reveal 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 not going to have any sway in the decision.

My flat in Ironbridge is up for sale and I have a buyer. Does my lawyer have to be on the Skipton conveyancing panel in order to deal with the discharge of my mortgage?

Ordinarily, even if your lawyer is not on the Skipton conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently at the moment.

The deeds to our property can not be found. The conveyancers who conducted the conveyancing in Ironbridge 4 years ago no longer exist. What are my options?

You no longer need to have the physical original deeds to establish that you are the registered proprietor of land or property, as the Land Registry have everything they need in a digital format.

Due to the input of my in-laws I had a survey completed on a property in Ironbridge prior to appointing lawyers. I have been told that there is a flying freehold overhang to the house. My surveyor advised that some banks may not issue a loan on a flying freehold home.

It depends who your proposed lender is. Lloyds has different requirements from Halifax. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Ironbridge. Conveyancing will be smoother if you use a solicitor in Ironbridge especially if they are familiar with such properties in Ironbridge.

Can you provide any top tips for leasehold conveyancing in Ironbridge with the aim of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Ironbridge can be avoided if you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
Some Ironbridge leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers. If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Ironbridge state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord approving such works. Should you fail to have the approvals in place you should not contact the landlord without contacting your solicitor in advance. The majority of landlords or Management Companies in Ironbridge charge for supplying management packs for a leasehold home. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Ironbridge.

I invested in buying a basement flat in Ironbridge, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Ironbridge with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 per annum. The lease finishes on 21st October 2079

With only 53 years unexpired we estimate the premium for your lease extension to span between £27,600 and £31,800 plus professional fees.

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 detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.