I am selling my flat in Tenbury Wells and the EA has just telephoned to warn that the purchasers are appointing a new solicitor. I am told that this is due to the fact that the bank will only deal with solicitors on their approved list. On what basis would a leading lender only engage with certain solicitors rather the firm that they want to select to handle their conveyancing in Tenbury Wells ?

Banks have always had panels of law firms they are content to work with, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.

Lenders justify this action to a rise in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to reveal 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. 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 purchasers are unlikely to have any impact on this.

Do the Building Society Association intend to launch a searchable register to list law firms on the Norwich and Peterborough Building Society conveyancing panel for example in Tenbury Wells?

We would not expect to be advised of any intention on the part of the BSA to promote such a tool.

Are all Tenbury Wells Conveyancing Quality Solicitors on the TSB conveyancing list of approved solicitors?

Some major lenders now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.

When it comes to mortgage companies such as Lloyds, do Tenbury Wells solicitors incur a yearly amount to be on the conveyancing panel?

We are not aware of any lender fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.

Is it the case that all Tenbury Wells solicitors on the Nottingham conveyancing panel are regulated by the Solicitors Regulatory Authority?

As a firm of solicitors, in order to be on the Nottingham conveyancing panel they would need to be governed by the SRA. Many lenders do permit licenced conveyancers on their panel in which case such firms would be governed by the Council of Licensed Conveyancers.

Due to the advice of my in-laws I had a survey completed on a house in Tenbury Wells before appointing conveyancers. I have been told that there is a flying freehold element to the house. Our surveyor has said that some lenders will not give a loan on this type of premises.

It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Tenbury Wells. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Tenbury Wells to see if the conveyancing will be more expensive.

What is the reason for new build conveyancing in Tenbury Wells being more expensive?

Acquiring a brand new premises is significantly distinct from the standard house purchase conveyancing in Tenbury Wells. For a start housebuilders usually require contracts to exchange very quickly, so there is a a great deal of pressure on your conveyancer to make sure everything is in order. Furthermore new build conveyancing frequently necessitate the checking of adoption of highways, drains, planning considerations, building warranties or architects certificates. Mortgage lender obligations are also more demanding. Given the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.