I am nearing exchange of contracts for my home in Lostwithiel and the EA has just telephoned to warn that the purchasers are swapping property lawyer. The excuse is that the mortgage company will only deal with solicitors on their approved list. Why would a major lender only engage with certain law firms rather the firm that they want to appoint for their conveyancing in Lostwithiel ?

UK lenders have always had an approved set of law firms that can represent them, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.

Lenders blame a rise in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says 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. Your purchasers are unlikely to have any sway in the decision.

My friend suggested that where I am purchasing in Lostwithiel I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?

This is a search is sometimes included in the estimate for your Lostwithiel conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Lostwithiel around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Lostwithiel Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information concerning Lostwithiel.

I'm buying my first flat in Lostwithiel with a mortgage from Santander. The developers refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not inform my solicitor about the side-deal as it will adversely affect my loan with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder 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've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Lostwithiel is where the house is located. What do you suggest?

Flying freeholds in Lostwithiel are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lostwithiel you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lostwithiel may determine 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 property.

I have been recommended a conveyancing solicitor in Lostwithiel. I need to find out if they are listed on the bank's approved list of lawyers. Can you advise?

You should call your conveyancer to check if they are on the lender's approved list. Alternatively please call us and we can investigate and revert. Should the firm not be on the conveyancing panel we we can help find a reputable conveyancing solicitor in Lostwithiel on the approved list for your lender.