I am in the process of selling my apartment in Prestbury and the estate agent has just text me to advise that the buyers are changing their law firm. The reason given is that the lender will only work with solicitors on their approved list. On what basis would a major mortgage company only engage with specific law firms rather the firm that they want to choose for their conveyancing in Prestbury ?

Banks have always had an approved set of law firms that can act for 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 worked with them for decades.

Banks point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that 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. Your purchasers are unlikely to have any impact on this.

Do I have to visit the offices of the solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Prestbury so that I can pop in to their offices if necessary.

Whereas this was necessary 12 years ago, almost all mortgage companies no longer require their conveyancing panel lawyer to witness the mortgagors signature. It will still be necessary for you to supply ID documents and there are still distinct advantages to choosing a local solicitor, in your case a conveyancing solicitor in Prestbury.

Should our conveyancer be making enquiries about flooding as part of the conveyancing in Prestbury.

Flooding is a growing risk for solicitors dealing with homes in Prestbury. There are those who acquire a house in Prestbury, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Solicitors are not qualified to offer advice on flood risk, but there are a various checks that may be initiated by the buyer or on a buyer’s behalf which should figure out the risks in Prestbury. The standard property information forms supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to determine if the property has suffered from flooding. If the premises has been flooded in past which is not disclosed by the seller, then a buyer may issue a compensation claim stemming from an inaccurate answer. The purchaser’s conveyancers may also conduct an environmental report. This should reveal whether there is any known flood risk. If so, more detailed inquiries will need to be made.

I am purchasing my first flat in Prestbury with the aid of help to buy. The builders refused to move on the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not disclose to my lawyer about the side-deal as it could adversely affect my mortgage with the lender. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder 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.

Me and my husband have recently had an offer accepted on a house and had meeting on Wednesday with the Post Office for the mortgage. They have informed us that when it comes to choosing a solicitor that unless they are on their approved panel of conveyancers then we will be subject to an a further charge of about two hundred pounds. This is because they would then have to appoint a solicitor to act for them in addition to the one we select on our behalf and we are liable for their fees. I have requested the Post Office to provide me with a list so I can seek quotes only from their approved lawyers but was told they dont have such a list to hand over. Is there a simple way of finding out who is on a lender panel?

Ask the Post Office what their panel criteria is for a solicitor.Thereafter ask the lawyer of your choice whether they fit that criteria and have they acted on loans for the Post Office historically. Where the answer to those is yes, then just double check with the Post Office. Alternatively please utilise our search tool and we may be able to find you a lawyer in Prestbury on the panel for the Post Office.