I am selling my ground floor flat in Mayfair and the EA has just called to advise that the buyers are switching conveyancer. The excuse is that the mortgage company will only work with solicitors on their approved list. Why would a leading lender only engage with specific lawyers rather the firm that they want to select for their conveyancing in Mayfair ?

Banks have always had panels of law firms they are willing to work with, but in recent 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 decades.

Mortgage companies attribute this action to a rise in fraud by way of justification for the pruning – criteria have been tightened 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 claims that 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. The purchasers are not going to have any impact on this.

Are there restrictive covenants that are commonly picked up as part of conveyancing in Mayfair?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Mayfair. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

I'm purchasing my first flat in Mayfair with the aid of help to buy. The builders would not budge the price so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not to tell my solicitor about this side-deal as it would put at risk my loan with Norwich and Peterborough Building Society. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Due to the input of my in-laws I had a survey completed on a property in Mayfair in advance of appointing solicitors. I have been advised that there is a flying freehold element to the house. The surveyor has said that some mortgage companies tend not issue a mortgage on such a house.

It depends who your proposed lender is. Bank of Scotland has different requirements for example to Nationwide. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Mayfair. Conveyancing will be smoother if you use a solicitor in Mayfair especially if they are accustomed to such properties in Mayfair.

I have noted on various consumer advice websites that when choosing a conveyancing firm they must be approved by your bank. I am new to the process but I have an AIP from Nat West Bank and I already have a local conveyancing lawyer in Mayfair in place. Can Virgin Money require an approved lawyer to be selected? Does a list of panel solicitors even exist for my conveyancing in Mayfair?

You need to use a solicitor that is on the Virgin Money panel. Just ring your preferred Mayfair conveyancing lawyer to check if they are on the Virgin Money panel. If they are not on the panel you have a number of alternatives available to you here:

• Complete the purchase with your chosen Mayfair solicitor but Virgin Money will undoubtedly instruct a property lawyer on their approved list. The net impact is additional charges together with likely interruption.
• Appoint a new solicitor to conduct the conveyancing, not forgetting to check that they are on the Virgin Money conveyancing panel.
• Convince your solicitor to seek to join the mortgage company panel.