I am selling my ground floor flat in Swinton and the estate agent has just e-mailed to warn that the purchasers are changing their conveyancer. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their approved list. Why would a leading lender only engage with specific law firms rather the firm that they want to select for their conveyancing in Swinton ?

UK lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.

Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been narrowed 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 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.

Have just purchased a probate house at auction in Swinton. Conveyancing is needed. What is next?

Given that you are now exchanged you must choose a conveyancing practitioner quickly as you are facing a fast approaching a fixed date to complete the purchase. Every auction property will have a corresponding legal pack. This will include evidence of title and search results. Where you are dealing with leasehold premises the conveyancing pack should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to a leasehold property. You must pass this on to the conveyancer instructed by you as soon as possible. Do make sure that your finances are organised to complete on the date specified in the contract.

Does a directory service exist listing Co-operative panel conveyancers in Swinton on the UK Finance Lenders’ Handbook Website?

Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lending institutions make their panel listings viewable online. If you are looking for a Swinton conveyancing practitioner on the Co-operative please make the most of our facility.

We previously selected conveyancing lawyers locally in Swinton on the Virgin Money solicitor approved list. They are now charging me a supplemental fee for handling the Virgin Money mortgage. Is this a supplemental conveyancing fee specified by Virgin Money?

Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitor can levy a fee for this. The fee is not set by Virgin Money but by your Swinton property lawyer. Numerous firms on the Virgin Money panel will levy an ‘acting for lender’ fee and others do not.

I have been told that property searches are the number one reason for stalling in Swinton house deals. Is this right?

The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays in the conveyancing process. Searches are not likely to be the root cause of delay in conveyancing in Swinton.

Are there restrictive covenants that are commonly picked up during conveyancing in Swinton?

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

We own a leasehold flat in Swinton. Conveyancing was finalised in 21012. I have been told that I mustn’t let the lease length fall too low. What is the reasoning?

Swinton domestic long term leases are for a fixed period - normally 99 years when they started. However many flats in Swinton were built or converted 25 or more years ago and so such leases now have under 80 years left to run. That may seem like a long time but Banks, Building Societies and other mortgage companies tend to need leases to have at least seventy five years unexpired to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are getting close to 75 years. To enhance the saleability of your property you should be considering whether or not to extend your lease well in advance of selling the property. Furthermore strong financial reasons to doing so before the lease hits 80 years as when the lease falls below eighty years the premium you have to pay to extend starts to increase.