I am nearing exchange of contracts for my house in Wapping and the estate agent has just telephoned to say that the buyers are changing their property lawyer. I am told that this is due to the fact that the lender will only deal with property lawyers on their conveyancing panel. On what basis would a leading lender only work with specific lawyers rather the firm that they want to choose to handle their conveyancing in Wapping ?

Lenders have always had an approved set of law firms they are willing to work with, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.

Mortgage companies point to the increase in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to disclose 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. 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. Your buyers are unlikely to have any impact on this.

My fiance and I intend to remortgage our penthouse in Wapping with Yorkshire BS. We have a son 18 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is repossessed. I have two concerns (1) Is this form unique to the Yorkshire BS conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?

First, rest assured that your Yorkshire BS conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Yorkshire BS. This is solely used to protect Yorkshire BS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Yorkshire BS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.

There are plenty of conveyancing solicitors in Wapping but how do I know who I should use?

We would encourage you not to base your choice on the lowest Wapping conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.

Is there a list of Bank of Ireland panel solicitors in Wapping on the Council of Mortgage Lender’s Website?

No. There is no such facility on the CML or Building Society Association websites. Very few banks make their panel listings visible on the web. If you are seeking to appoint a Wapping property lawyer on the Bank of Ireland please use our tool.

We are getting a further advance on our home loan from Clydesdale as we wish to conduct a loft conversion to our house in Wapping. Do we need to select a bricks and mortar Wapping solicitor on the Clydesdale conveyancing panel to handle the paperwork?

Clydesdale would not normally appoint a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Clydesdale conveyancing panel.

Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Wapping is the location of the property. What do you suggest?

Flying freeholds in Wapping are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wapping 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 Wapping may decide 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.

At what point do I incur stamp duty chargeable for my purchase in Wapping?

The conveyancing practitioner will complete a Land Transaction Return Form for you during your Wapping purchase transaction for signature. On completion your property lawyer will submit the STL Return Form to the Tax Authorities and - as long as they have the funds - discharge any tax bill payable for you.