I am 4 weeks into the sale of my ground floor flat in Monmouthshire and the estate agent has just telephoned to warn that the purchasers are appointing a new conveyancer. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their approved list. Why would a major lender only work with specific solicitors rather the firm that they want to select to handle their conveyancing in Monmouthshire ?

Mortgage companies have always had panels of law firms they are willing to work with, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.

Mortgage companies justify this action to a rise in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any sway in the decision.

How does conveyancing in Monmouthshire differ for new build properties?

Most buyers of new build or newly converted property in Monmouthshire come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in Monmouthshire tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Monmouthshire or who has acted in the same development.

Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what should have been a simple, chain free conveyancing. Monmouthshire is where the house is located. Can you shed any light on this issue?

Flying freeholds in Monmouthshire are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Monmouthshire you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Monmouthshire 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.

Back In 2005, I bought a leasehold house in Monmouthshire. Conveyancing and mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Monmouthshire who previously acted has now retired. What should I do?

The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Monmouthshire conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Leasehold Conveyancing in Monmouthshire - A selection of Queries before buying

The answer will be useful as a) areas may cause problems for the building as the common areas may start to deteriorate if maintenance remain unpaid b) if the leaseholders have a dispute with the running of the building you will wish to have full disclosure How is the lease structured?

My offer on house in Monmouthshire was accepted, but there is a chain. The vendors have offered on a property, however it’s not been accepted yet, and are looking at other properties booked. I have selected a local conveyancing lawyer in Monmouthshire. What should be my next step? At what stage do I apply for the mortgage with ?

It is usual to have anxieties where there is a chain given your reluctance to incur expenses too early (mortgage application is in the region of one thousand pounds, then survey, Monmouthshire conveyancing search costs, etc). First, you should check that your is on the approved list. As to the next stages this very much depends on the circumstances of your transaction, desire for this property and on the state of the market. In a rising market the majority of home buyers will apply for a home loan with and arrange for the valuation and only if it was satisfactory would they ask their to press on with the conveyancing in Monmouthshire.