I am nearing exchange of contracts for my ground floor flat in Thirsk and the estate agent has just called to say that the buyers are changing their solicitor. The excuse is that the mortgage company will only engage with solicitors on their conveyancing panel. On what basis would a major mortgage company only engage with certain lawyers rather the firm that they want to appoint to handle their conveyancing in Thirsk ?

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 more than 15 years.

Banks blame a rise in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to reveal 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 buyers are not going to have any sway in the decision.

I am selling my flat in Thirsk. Will the property lawyer need to be on the Lloyds conveyancing panel in order to deal with the discharge of my mortgage?

Ordinarily, even if your lawyer is not on the Lloyds conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.

Due to the advice of my in-laws I had a survey completed on a property in Thirsk before retaining conveyancers. I have been told that there is a flying freehold element to the property. The surveyor advised that some lenders tend refuse to give a mortgage on a flying freehold premises.

It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Thirsk. Conveyancing will be smoother if you use a solicitor in Thirsk especially if they regularly deal with such properties in Thirsk.

Do you have any top tips for leasehold conveyancing in Thirsk from the point of view of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Thirsk can be reduced where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ representatives.
If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Arranging a replacement share certificate can be a lengthy formality and delays many a Thirsk home move. If a duplicate share certificate is required, you should approach the company officers or managing agents (if relevant) for this sooner rather than later. You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to where the lease term is under 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. Many freeholders or managing agents in Thirsk levy fees for providing management packs for a leasehold home. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Thirsk.

Thirsk Leasehold Conveyancing - Examples of Questions you should ask before Purchasing

If a Thirsk lease has fewer than 80 years it will affect the value of the flat. Check with your lender that they are content with residual term of the lease. Leases with less than 80 years remaining means that you will almost definitely need a lease extension sooner rather than later and it is worth discovering what this would cost. For most Thirsklease extensions you will need to own the premises for a couple of years in order to be entitled to exercise a lease extension. Are there any major works on the horizon that will increase the service fees? Is there a share of the freehold?

My conveyancers in Thirsk have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the lender. Is it case that being on the lender conveyancing panel they need to have retained the file for a number of years?

It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the mortgage company Conveyancing Panel Terms. It might be worth you contacting the bank directly.