I am 3 weeks into the sale of my maisonette in Whetstone and the EA has just telephoned to advise that the buyers 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 big named mortgage company only deal with specific solicitors rather the firm that they want to select to handle their conveyancing in Whetstone ?

UK lenders have always had panels of law firms they are content to work with, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.

Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to reveal 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 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.

How does conveyancing in Whetstone differ for new build properties?

Most buyers of new build property in Whetstone contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is built. This is because house builders in Whetstone usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Whetstone or who has acted in the same development.

I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what should have been a simple, chain free conveyancing. Whetstone is where the house is located. Can you shed any light on this issue?

Flying freeholds in Whetstone are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Whetstone you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Whetstone may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.

I was advised by numerous selling agents in Whetstone to get a quote from a conveyancer on your site. What’s the financial inducement for Estate Agents to recommend your site ahead of another?

We refuse to give any referral fee for pointing buyers and sellers our way. We thought it would be too underhand a fee because members of the public would think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.

Your search tool is useful but there are many lawyers listed near Whetstone being on the lender conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the mortgage company approved panel?

We are not in the business of recommending one firm above another as the right Whetstone conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Whetstone knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..