I am progressing with the sale of my house in Cross Keys and the EA has just telephoned to advise that the purchasers are switching conveyancer. The reason given is that the mortgage company will only engage with property lawyers on their approved list. Why would a leading lender only deal with specific lawyers rather the firm that they want to choose to handle their conveyancing in Cross Keys ?

Banks have always had panels of law firms that can act for them, but in the last few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.

Mortgage companies point to the increase in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. No lender will say 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 do not even realise 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 unlikely to have any sway in the decision.

AssumingI were to buy a straightforward housein Cross Keys for cash and dispense with a survey and no local authority searches how much would I expect to to save on my conveyancing in Cross Keys?

The sole reduction in fees you would make on is the Cross Keys conveyancing searches. A property lawyer still got to do everything else - money laundering, communicating with your sellers conveyancing practitioner, SDLT submission, register the property etc. You might save a bit for them not needing to register a charge however it won't be meaningful.

I'm buying a new build house in Cross Keys with the aid of help to buy. The sellers would not move on the price so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not disclose to my solicitor about this side-deal as it may affect my mortgage with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I have been pointed in your direction by a number of estate agents in Cross Keys to locate a solicitor on your site. What’s the financial advantage for Estate Agents to market your services ahead of a competitor’s?

We don’t offer any financial incentive for directing people to this site. We found it would be just too difficult to pay a commission because a client could think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.

Having checked my lease I have discovered that there are only 68 years left on my lease in Cross Keys. I need to extend my lease but my landlord is missing. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to locate the freeholder. In some cases a specialist may be useful to conduct investigations and to produce a report to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court overseeing Cross Keys.

I purchased a 2 bed flat in Cross Keys, conveyancing having been completed February 2007. Can you work out an approximate cost of a lease extension? Equivalent properties in Cross Keys with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease ceases on 21st October 2086

You have 61 years unexpired we estimate the premium for your lease extension to range between £19,000 and £22,000 as well as plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.