I am in the process of selling my flat in Looe and the estate agent has just e-mailed to advise that the purchasers are switching property lawyer. The reason given is that the mortgage company will only deal with solicitors on their approved list. Why would a major lender only deal with specific law firms rather the firm that they want to choose to handle their conveyancing in Looe ?

Lenders have always had an approved set of law firms that can act for them, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.

Banks justify this action to a rise in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to disclose 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. Some 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. Your purchasers are not going to have any sway in the decision.

My home in Looe is up for sale and I have a buyer. Does the property lawyer have to be required to be on the Co-operative conveyancing panel in order to deal with paying off my mortgage?

Ordinarily, even if your lawyer is not on the Co-operative 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 requirements fairly frequently at the moment.

How does conveyancing in Looe differ for new build properties?

Most buyers of new build premises in Looe approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is built. This is because builders in Looe tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Looe or who has acted in the same development.

Planning to sign contracts shortly on a ground floor flat in Looe. Conveyancing lawyers inform me that they are sending me a report on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Looe should include some of the following:

The total extent of the demise. This could be the apartment itself but could also include a roof area or basement if relevant. Repair and maintenance of the premises Ground rent - what is due and when is collected, and also know whether this is subject to change Details of the parties to the lease, for example these could be the lessee, head lessor, landlord

I invested in buying a 1st floor flat in Looe, conveyancing having been completed 9 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Looe with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ceases on 21st October 2087

With 62 years left to run the likely cost is going to be between £17,100 and £19,800 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.

I'm remortgaging a bungalow in Looe. I can find my conveyancer's company on the Law Society's list, but I can't find my conveyancer's name as listed on the regulator's website. Is this a big problem?

Not all staff in the company must be listed by the regulator. As long there is someone qualified to 'oversee' the work, the actual day-to-day activity can be conducted by unlicensed staff.