I am nearing exchange of contracts for my flat in Wolston and the EA has just telephoned to advise that the purchasers are switching solicitor. I am told that this is due to the fact that the bank will only engage with solicitors on their conveyancing panel. Why would a leading lender only work with certain lawyers rather the firm that they want to select to handle their conveyancing in Wolston ?

Mortgage companies have always had panels of law firms that can act for them, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.

Lending institutions point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to oversee. 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 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. The purchasers are not going to have any impact on this.

In what way does my ID and proof of funds have anything to do with my conveyancing in Wolston? What am I being asked for?

It is indeed that case that these requests have nothing to do with conveyancing in Wolston. Nowadays you will not be able to complete any conveyancing transaction without first supplying proof of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a bank statement. Remember if you are providing your driving licence as proof of identification it needs to be both the paper element and photo card part, one is not satisfactory without the other.

Verification of your source of money is mandated under Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancer will need to have this information on record. Your Wolston conveyancing lawyer will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they may also ask further queries concerning the source of monies.

We are getting a further advance on our home loan from Kent Reliance as we want to conduct improvements to our home in Wolston. Are we obliged to appoint a local Wolston solicitor on the Kent Reliance conveyancing panel to deal with the legals?

Kent Reliance would not normally instruct a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance panel.

After months of negotiation I have agreed a price on an apartment in Wolston. My financial adviser pressured me to appoint their conveyancing practitioner. I paid an on account payment of £200. A few days later, the lawyer contacted me embarrassingly acknowledging that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

I am selling my flat. I had a double glazing fitted in April 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Coventry BS are being difficult. The Wolston solicitor who is on the Coventry BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Coventry BS are insisting on a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?

It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.

I opted to have a survey completed on a house in Wolston ahead of retaining solicitors. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some banks tend not issue a loan on this type of home.

It varies from the lender to lender. Santander has different requirements from Nationwide. If you contact us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Wolston. Conveyancing may be slightly more expensive based on your lender's requirements.

I am using a search engine for the words conveyancing in Wolston it reveals many property lawyerslocally. With so much choice what is the best way to find the right conveyancing solicitor for me?

The preferential method of choosing a suitable conveyancer is via trusted referral, so enquire of friends and relatives who have acquired a property in Wolston or a reputable estate agent or financial adviser. Fees for conveyancing in Wolston vary, so it's advisable to secure a minimum of three quotes from varying types of property lawyers. Be sure to seek confirmation that the charges are guaranteed not to rise.