I am not in a position to travel far from Greenwich. What is the rationale as to why all Greenwich conveyancers are not on all mortgage company panels?

Pre- 2008 most lenders displayed an attitude to risk which is different from today. The financial regulator in 2010 instigated a thematic review into fraud which in summary warned lenders: know the conveyancing practitioners on your panel. Accordingly, mortgage companies have subsequently requiredmore information from law firms concerning their processes and the staff employed by them and set certain criteria such as completing a minimum amount of transactions. Many firms have been removed from lender panels even though they had 100% healthy disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms were never going to meet the minimum amount of transactions the mortgage companies set.

We're in Greenwich, FTBs buying with a mortgage (lender is Virgin Money , and our solicitor is on the Virgin Money conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.

Various web forums that I have visited warn that are the number one cause of hinderance in Greenwich conveyancing transactions. Is this right?

The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays in the conveyancing process. Searches are unlikely to be the root cause of holding up conveyancing in Greenwich.

Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Greenwich is where the house is located. Can you shed any light on this issue?

Flying freeholds in Greenwich are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Greenwich you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Greenwich may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.

What advice can you give us when it comes to finding a Greenwich conveyancing practice to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Greenwich conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Greenwich conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be helpful:

How experienced is the firm with lease extension legislation?

Following months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Greenwich. Can we issue an application to the Residential Property Tribunal Service?

Where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to arrive at the premium.

An example of a Lease Extension case for a Greenwich property is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case affected 2 flats. The unexpired term as at the valuation date was 72 years.