I am in the process of selling my apartment in Castle Bromwich and the estate agent has just telephoned to warn that the purchasers are appointing a new law firm. The reason given is that the bank will only engage with solicitors on their conveyancing panel. Why would a big named mortgage company only work with certain law firms rather the firm that they want to appoint to handle their conveyancing in Castle Bromwich ?

UK lenders have always had panels of law firms they are willing to work with, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.

Lenders point to the increase in fraud by way of justification 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 claims that it is being contacted daily by practices that have been removed from panels. Some 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.

Various web forums that I have come across warn that are the number one reason for delay in Castle Bromwich house deals. Is this right?

The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of holding up conveyancing in Castle Bromwich.

I'm buying my first flat in Castle Bromwich with the aid of help to buy. The builders refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The property agent told me not to tell my lawyer about the extras as it may jeopardize my mortgage 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.

Due to complete next month on a ground floor flat in Castle Bromwich. Conveyancing solicitors have said that they report fully next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Castle Bromwich should include some of the following:

Defining your legal entitlements in respect of common areas in the block.For instance, does the lease grant a right of way over an accessway or hallways? You need to be advised what is to be regarded as a Nuisance as far as the lease is concerned Do you need to have carpet in the flat or are you allowed wood flooring? Rent payments - what is due and when you need to pay, and also know whether this is subject to change The landlord’s rights to access the property. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided.

I bought a ground floor flat in Castle Bromwich, conveyancing was carried out in 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Castle Bromwich with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £45 levied per year. The lease finishes on 21st October 50

With only 50 years remaining on your lease we estimate the price of your lease extension to span between £36,100 and £41,800 as well as professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

Why do Castle Bromwich conveyancing costs are higher for leasehold and freehold properties?

There is always increased work necessary in leasehold conveyancing. Castle Bromwich has many leasehold properties. There is more time involved in the purchase: for example, the lease and leasehold information (including up to date service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.