I am in the process of selling my home in Lakenham and the EA has just called to warn that the purchasers are swapping conveyancer. The excuse is that the bank will only deal with solicitors on their conveyancing panel. On what basis would a major lender only engage with certain lawyers rather the firm that they want to select to handle their conveyancing in Lakenham ?

UK lenders have always had panels of law firms they are content to work with, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.

Mortgage companies point to the increase in fraud by way of justification for the cull – criteria have been narrowed 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. The purchasers are not going to have any impact on this.

I acquired my apartment on 4 February and my personal details is not yet registered. Any reason for this? My conveyancing solicitor in Lakenham said it will be registered inside ten days. Are titles in Lakenham particularly slow to register?

There is nothing unique about conveyancing in Lakenham registration formalities. As opposed to being determined by geographic area, timeframes can adjust subject to the party submitting the application, whether it is in order and if the Land registry need to notify any third parties. Currently in the region of 80% of such applications are completed within two weeks but some can be subject to protracted delays. Registration occurs after the purchaser has moved in to the property therefore 'speed' is not always an essential issue but if it is urgent that the the registration takes place urgently then you or your conveyancer can communicate with the Registry to express the reasoning for the application to be prioritised.

I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Lakenham is the location of the property. Can you shed any light on this issue?

Flying freeholds in Lakenham are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lakenham you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lakenham may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

Am I best advised to go with a Lakenham conveyancing solicitor who is local to the property I am purchasing? I have an old university friend who can conduct the conveyancing but they are based 300miles away.

The benefit of a local Lakenham conveyancing practice is that you can drop in to execute documents, deliver your identification documents and apply pressure on them where appropriate. They will also have local knowledge which is a plus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and on the whole were happy that must trump using an unfamiliar Lakenham conveyancing lawyer solely due to them being round the corner.

I am the registered owner of a leasehold flat in Lakenham, conveyancing having been completed in 1995. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Lakenham with over 90 years remaining are worth £165,000. The ground rent is £45 invoiced annually. The lease terminates on 21st October 50

With just 50 years unexpired the likely cost is going to span between £36,100 and £41,800 as well as costs.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.