I am nearing exchange of contracts for my apartment in Kingsthorpe and the estate agent has just telephoned to advise that the buyers are switching property lawyer. I am told that this is due to the fact that the mortgage company will only work with property lawyers on their conveyancing panel. On what basis would a big named lender only deal with certain solicitors rather the firm that they want to select for their conveyancing in Kingsthorpe ?
Mortgage companies have always had an approved set of law firms they are content to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Mortgage companies point to the increase in fraud as the reason for the reduction – 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. 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 buyers are not going to have any sway in the decision.
I purchased a freehold property in Kingsthorpe but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Kingsthorpe and has limited impact for conveyancing in Kingsthorpe but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
My house in Kingsthorpe is up for sale and I have a buyer. Does my conveyancer have to be required to be on the Coventry BS conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS 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 requirements fairly frequently at the moment.
I used Arc property Solicitors a few years past for my conveyancing in Kingsthorpe. I now require my file but cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Kingsthorpe of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I opted to have a survey completed on a property in Kingsthorpe prior to appointing solicitors. I have been told that there is a flying freehold element to the property. Our surveyor has said that some banks tend not issue a loan on this type of premises.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. Should you wish to call us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Kingsthorpe. Conveyancing will be smoother if you use a solicitor in Kingsthorpe especially if they regularly deal with such properties in Kingsthorpe.
My husband and I yesterday discovered that one of the directors of the solicitors handling the purchase conveyancing in Kingsthorpe is related to the owners that we are purchasing from. Is this acceptable?
On the basis that there is no conflict of interest this should be fine. Where you are requiring mortgage finance then the bank may have a say as many mortgage companies have specific instructions on this. For example for Yorkshire Building Society as of 8/6/2025, the requirements read as follows :
* there is no conflict of interest and none arises during the transaction
* the firm is a partnership
* the conveyancer acting is not the borrower or a member of the borrower's immediate family