I am selling my house in Bayswater and the estate agent has just text me to warn that the purchasers are swapping solicitor. I am told that this is due to the fact that the lender will only engage with property lawyers on their approved list. Why would a big named mortgage company only engage with specific lawyers rather the firm that they want to select for their conveyancing in Bayswater ?

Mortgage companies have always had panels of law firms they are content to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed 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 by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. No lender will say 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. 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. The purchasers are unlikely to have any sway in the decision.

My wife and I are purchasing a newly built duplex in Bayswater and my solicitor is telling me that she is duty bound to the lender to disclose incentives from the builder. I am nearing the developer’s deadline to sign contracts and my preference is not to delay the conveyancing. Is my lawyer right?

You should not exchange unless you have been advised to do so by your . A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.

We see that you have a post code search directory identifying solicitors on the conveyancing panel. Do companies pay you a commission if I retain them for our conveyancing in Bayswater?

We are a listing service only for law firms wishing to communicate if they are on the conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bayswater.

I am buying my first flat in Bayswater with a mortgage from . The builders would not move on the price so I negotiated £7000 of fixtures and fittings instead. The property agent told me not inform my conveyancer about this side-deal as it may adversely affect my loan with the lender. 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 own a studio flat in Bayswater, conveyancing having been completed in 1995. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Bayswater with an extended lease are worth £165,000. The ground rent is £45 invoiced annually. The lease runs out on 21st October 50

With only 50 years left to run the likely cost is going to be between £36,100 and £41,800 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.