I am progressing with the sale of my maisonette in Lee and the EA has just e-mailed to advise that the buyers are switching conveyancer. The excuse is that the lender will only deal with solicitors on their conveyancing panel. Why would a major mortgage company only deal with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Lee ?

Mortgage companies have always had an approved set of law firms that can represent them, but in the past few years big names such as Lloyds Banking Group, have considered 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 reduction – criteria have been tightened 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 hearing daily from firms that have been removed from panels. Some 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 buyers are not going to have any impact on this.

Can you explain why leasehold purchase conveyancing in Lee is more expensive?

In short, leasehold conveyancing in Lee and elsewhere usually necessitates more due diligence compared to freehold conveyancing. This includes analysing the lease terms, liaising with the landlord concerning serving applicable notices, obtaining up-to-date service charge and management information, procuring 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 suspended from the Nationwide Conveyancing panel ahead of completing my conveyancing in Lee?

The first thing to point out is that, this is very unlikely to happen. 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.

I am looking for a flat up to £195,000 and identified one near me in Lee I like with a park and railway links in the vicinity, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Lee in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?

Should you need a mortgage that many years will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.

I work for a long established estate agent office in Lee where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Lee conveyancing firms. Can you confirm whether the owner of a flat can commence the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Following months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Lee. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Absolutely. We are happy to put you in touch with a Lee conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Lee premises is 18 Handen Road in April 2013. On 26 October 2012 District Judge Zimmels sitting at the Lambeth County Court made a Vesting Order that the Applicants be granted the right to acquire the freehold upon such terms and at such price determined by the LVT. The Tribunal arrived a figure of £39,535 as a valuation for the enfranchisement. This case affected 3 flats. The remaining number of years on the lease was 69.05 years.