I am in the process of selling my apartment in Walkden and the EA has just telephoned to warn that the purchasers are swapping property lawyer. The excuse is that the bank will only deal with property lawyers on their approved list. On what basis would a leading mortgage company only deal with specific solicitors rather the firm that they want to choose to handle their conveyancing in Walkden ?

Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.

Banks point to the increase in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms 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 not going to have any impact on this.

In the event thatI was to purchase a straightforward housein Walkden mortgage fee and dispense with a survey and no conveyancing searches how much could I expect to to save on my conveyancing in Walkden?

Any savings you would gain would be limited to the Walkden conveyancing searches. Your conveyancing practitioner still be obliged to do everything else - money laundering, correspond with the vendors conveyancing practitioner, stamp duty return, register the title etc. You might save a bit for them not needing to register a charge but it will not be a lot.

The estate agent has sent us the confirmation of our purchase of a new build apartment in Walkden. Conveyancing is daunting 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 questions that you should expect your new-build leasehold conveyancing in Walkden

Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?

My brother has recommend that I appoint his lawyers for conveyancing in Walkden. Do I take his advice?

No doubt it’s preferable to find a conveyancing lawyer is to seek feedback from friends or family who have previously instructed the solicitor you're considering.

I am a negotiator for a long established estate agent office in Walkden where we have witnessed a few leasehold sales derailed as a result of short leases. I have been given contradictory information from local Walkden conveyancing solicitors. Can you clarify whether the seller of a flat can start the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

I acquired a 1 bedroom flat in Walkden, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Walkden with a long lease are worth £260,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ends on 21st October 2100

You have 74 years left to run we estimate the price of your lease extension to range between £8,600 and £9,800 as well as professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.