I am in the process of selling my flat in Plympton and the estate agent has just text me to advise that the purchasers are appointing a new solicitor. I am told that this is due to the fact that the lender will only engage with property lawyers on their conveyancing panel. Why would a big named lender only deal with specific law firms rather the firm that they want to choose for their conveyancing in Plympton ?

Mortgage companies have always had an approved set of law firms that can represent them, but in the last few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.

Banks point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to monitor. 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 unlikely to have any sway in the decision.

I am thinking of mortgaging my house in Plympton, does my lawyer have to be on the Nationwide Conveyancing panel?

There is nothing to stop you using your solicitor, but Nationwide will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.

I am due to move home in May. Will my conveyancing solicitor communicate with the removal company on the completion day. Incidentally, can you recommend a removal company in Plympton. Conveyancing firm was found before I stumbled across this website.

On the day of completion you will need to collect the keys from the estate agent but this should only happen after the sellers solicitors confirm to the agent that they acknowledge receipt of the completion payment and the keys can be released. After that you can advise the removal men that you are ready to move in. As a matter of policy we do not suggest a specific removal company but can help you find a residential property solicitor in Plympton or a legal practice that specialises in conveyancing in Plympton.

I am buying a end of terrace house in Plympton. We would like to carry out a loft conversion at the house.Will legal investigations on the property involve checks to ascertain if these alterations are allowed?

Your conveyancer will check the registered title as conveyancing in Plympton can on occasion reveal restrictions in the title deeds which prevent certain changes or need the permission of a 3rd party. Certain works call for local authority planning consent and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be sensible to check these things with a surveyor ahead of any purchase.

We previously chose solicitors located in Plympton on the UBS solicitor approved list. They have just billed me a supplemental sum for dealing with the UBS mortgage. Is this a supplemental conveyancing fee specified by UBS?

Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your lawyer may charge a fee for this. The charge is not set by UBS but by your Plympton conveyancing practitioner. Numerous firms on the UBS panel will charge an ‘acting for lender’ fee and others do not.

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

Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Plympton. 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…’

What makes a Plympton lease unmortgageable?

Leasehold conveyancing in Plympton is not unique. All leases are drafted differently and drafting errors can result in certain provisions are not included. The following missing provisions could result in a defective lease:

A provision to repair to or maintain elements of the building

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Norwich and Peterborough Building Society, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.

I inherited a studio flat in Plympton, conveyancing formalities finalised August 2007. How much will my lease extension cost? Similar properties in Plympton with a long lease are worth £265,000. The ground rent is £50 invoiced annually. The lease runs out on 21st October 2099

With 75 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.