Much to our surprise we have been advised by our mortgage broker that my Becontree Heath the law firm I have appointed is not on the lender Conveyancing panel. How can I be certain that this is indeed the case?

You need to call your Becontree Heath lawyer directly. It is reasonable to expect your lawyer to notify you what has happened. Where they are not on the panel they may be able to suggest a Becontree Heath conveyancing practice that is on the approved list of lawyers for your mortgage company.

Due to move into my new home in Becontree Heath next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What risks does the bank expect the insurance to cover?

All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These requirements are not limited to conveyancing in Becontree Heath.

Can you explain why leasehold purchase conveyancing in Becontree Heath costs more?

In short, leasehold conveyancing in Becontree Heath and elsewhere usually warrants additional hours of investigation compared to freehold transactions. This includes reviewing the lease, communicating with the landlord concerning serving appropriate notices, obtaining current service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first granted.

Can you clarify what the consequences are if my lawyer’s firm is expelled from the TSB Solicitor panel ahead of completing my conveyancing in Becontree Heath?

The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

Our lender agreed in principle to issue us a mortgage. We are using a long established conveyancer in Becontree Heath two days ago. This morning, our mortgage adviser called to say that the bank said that we cannot use our solicitor as they aren't on their panel. As novices, we did not have a clue that the bank had a say Is this permitted?

You are permitted to select any conveyencer you prefer to appoint for your conveyancing in Becontree Heath but if they are not on the your bank's panel you would have to incur an extra fee so the bank can retain their own lawyers. It may be conceivable that your preferred conveyancing firm to get included on to the lender list of approved firms. Do make the most of web-based search facilities such as lenderpanel.com to find a conveyancing solcitor in Becontree Heath on the mortgage company panel. You can go into your high street lender branch in Becontree Heath. They will know some good conveyancing solicitors in Becontree Heath on the panel for your bank.