My wife and I are looking to acquire a property in The Park and have instructed a The Park conveyancing practice. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Yorkshire Building Society have this morning contacted us to advise us that they have now hit a problem as our The Park solicitor is not on their conveyancing panel. Please explain?

When purchasing a property with the benefit of a mortgage it is normal for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own The Park solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.

I am hoping to complete my purchase in The Park next Tuesday. My conveyancer now wants me to supply her with proof of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the bank. What risks does the bank expect the insurance to cover?

Any lawyer on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 instructions. These obligations are not specific to conveyancing in The Park.

Do the Building Society Association intend to launch a online directory to list law firms on the Earl Shilton BS conveyancing panel for instance in The Park?

We would not expect to be advised of any intention on the part of the BSA to promote such a register.

Will my lawyer be raising questions concerning flooding as part of the conveyancing in The Park.

Flooding is a growing risk for solicitors dealing with homes in The Park. There are those who buy a house in The Park, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.

Lawyers are not best placed to offer advice on flood risk, but there are a numerous checks that may be initiated by the purchaser or by their conveyancers which can give them a better understanding of the risks in The Park. The standard information sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard question of the seller to determine whether the property has historically flooded. If the property has been flooded in past which is not revealed by the owner, then a purchaser could issue a claim for damages as a result of such an inaccurate answer. A purchaser’s conveyancers should also order an environmental search. This should higlight whether there is any known flood risk. If so, additional inquiries will need to be initiated.

I am buying a new build apartment in The Park. Conveyancing is a frightening process 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.

Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in The Park

Please supply a car parking plan. 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. 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?