I am 3 weeks into the sale of my apartment in Monken Hadley and the EA has just telephoned to say that the buyers are swapping law firm. The excuse is that the mortgage company will only deal with solicitors on their approved list. Why would a big named lender only deal with certain solicitors rather the firm that they want to select for their conveyancing in Monken Hadley ?

UK lenders have always had panels of law firms that can act for them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.

Mortgage companies point to the increase in fraud by way of justification for the cull – 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 says it is being contacted daily by practices 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. Your purchasers are unlikely to have any impact on this.

I am due to complete buying a house in Monken Hadley but as a consequence of wreckage from a small fire at the property I have was able negotiate reparation from the seller in the sum of three thousand pounds taking the form of a reduction in the price. I had intended this to be dealt with as part of the conveyancing process but Nottingham are not allowing this. Should they have been involved?

Any property lawyer that is on a Nottingham approved list is required to advise Nottingham of any variations to the sale price. If you prohibit your solicitor to disclose the price change to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new solicitor for your conveyancing in Monken Hadley.

I own a freehold residence in Monken Hadley but nevertheless pay rent, why is this and what is this?

It is rare for properties in Monken Hadley and has limited impact for conveyancing in Monken Hadley 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.

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

The estate agent has sent us the confirmation of our purchase of a new build apartment in Monken Hadley. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Monken Hadley

The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. There must be mutual enforceability of lessee’s covenants. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?

I have been on the look out for a leasehold apartment up to £305k and found one close by in Monken Hadley I like with a park and station nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in Monken Hadley in this price bracket, so just wondered if I would be making a grave error buying a short lease?

If you need a home loan the shortness of the lease will be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.