I am selling my ground floor flat in Baldock and the estate agent has just telephoned to warn that the buyers are swapping law firm. The reason given is that the lender will only engage with solicitors on their conveyancing panel. Why would a big named lender only deal with certain solicitors rather the firm that they want to appoint for their conveyancing in Baldock ?

Lenders have always had an approved set of law firms that can represent them, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.

Banks point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to oversee. Banks tend not to disclose 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. The purchasers are not going to have any sway in the decision.

I require conveyancing for a flat in a fairly new development (five years old) in Baldock. The vast majority the appartments have already been sold. Is it really necessary to order neighbourhood searches for my conveyancing in Baldock?

You would be putting yourself at risk in failing carrying out Baldock conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal necessity to have them, but we would absolutely advise in the strongest possible terms that your lawyer conducts them. If timings and cost are top of your concerns you should consider with your solicitor about the options such as indemnity insurance available to you

Should conveyancers request an advanced payment for my conveyancing in Baldock?

Where you are retaining lawyers for conveyancing in Baldock your solicitor will request that you place them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is payable against the total price then this should be asked for immediately prior to contracts are exchanged. The final balance that is needed should be sent to your lawyer shortly before completion.

I have been told that property searches are the primary cause of obstruction in Baldock conveyancing transactions. Is that correct?

The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in Baldock.

Can you provide any top tips for leasehold conveyancing in Baldock with the intention of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Baldock can be reduced if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information needed by the buyers’ lawyers.
A minority of Baldock leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be nervous about purchasing a property where a dispute is unresolved. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic as opposed to ongoing. You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. It is therefore essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Baldock Conveyancing for Leasehold Flats - Sample of Questions you should consider before buying

It is important to be aware if changing the roof or some other major work is coming up that will be shared by the leaseholders and could well dramatically increase the the service costs or require a specific payment. How is the lease structured?