I am selling my flat in Wool and the estate agent has just called to warn that the buyers are changing their property lawyer. The reason given is that the mortgage company will only work with solicitors on their conveyancing panel. Why would a leading lender only work with specific solicitors rather the firm that they want to choose to handle their conveyancing in Wool ?

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

Banks justify this action to a rise in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to disclose 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. Your purchasers are not going to have any sway in the decision.

My aunt advised me that in buying a property in Wool there could be a number of restrictions as to what one can do in terms of external changes to a property. Is this right?

We are aware of a number of properties in Wool which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Wool should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

I am purchasing a property in Wool. An unusual aspect is that the roof has a solar panel. Nationwide have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?

Given that you are obtaining a mortgage with Nationwide your lawyer must check the conveyancing requirements set out in Section two of UK Finance Lenders’ Handbook for Nationwide. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and solicitors are required to report to Nationwide where a lease does not meet these conditions. The conditions relate to the installation of panels on properties countrywide and is not restricted to Wool.

It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Wool building society branch on various occasions and was reassured it wasn't a problem and they will lend. My Wool conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they will not lend based on their published requirements. Who do I believe?

Your property lawyer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.

A colleague suggested that if I am purchasing in Wool I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?

This is a search is occasionally quoted for as part of the standard Wool conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Wool around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Wool Education with plans and statistics, Local Amenities and other useful information about Wool.

4 months have elapsed following my purchase conveyancing in Wool concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

My 20yr old son is about to join the property ladder, the home loan was agreed last week in principle. One the offer was accepted on apartment we telephoned the mortgage institution to progress the mortgage application. We were very surprised to hear that mortgage companies do not accept all conveyancer, they have to be on a list, is this legal?

Banks normally restrict either the type or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Wool conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.