I am one month into the sale of my home in Chepstow and the estate agent has just e-mailed to say that the buyers are appointing a new solicitor. The excuse is that the bank will only deal with property lawyers on their conveyancing panel. Why would a big named mortgage company only work with specific law firms rather the firm that they want to appoint to handle their conveyancing in Chepstow ?

UK lenders have always had an approved set of law firms that can act for 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 25 years.

Lenders point to the increase in fraud as the reason for the reduction – criteria have been tightened 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 says it is hearing daily from firms that have been removed from panels. Plenty of firms 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. The buyers are unlikely to have any sway in the decision.

I am hoping to complete my purchase in Chepstow next Friday. My conveyancer now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. What risks does the bank expect the insurance to cover?

All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook conditions. These obligations are not specific to conveyancing in Chepstow.

I need some fast conveyancing in Chepstow as I have an ultimatum to sign on the dotted line in less than one month. A home loan is not required. Is it possible to avoid the conveyancing searches to save fees and time?

If.Given you are not taking a home loan you are at free not to have searches carried out although no law firm would advise that you don't. With plenty of history conveyancing in Chepstow the following are instances of what can arise and therefore affect future mortgageability: Refused Planning Applications, Overdue Fees, Outstanding Grants, Railway Schemes,...

I've recently found out that there is a flying freehold issue on a house I have offered on last month in what should have been a simple, no chain conveyancing. Chepstow is where the house is located. Is there any guidance you can give?

Flying freeholds in Chepstow are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Chepstow you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chepstow may determine 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.

We have instructed a Chepstow conveyancing solicitor for our home move (first time buyers) and have noticed in the engagement letter that they are not governed by the FCA. Need I be concerned or is that standard with conveyancer?

We can't see why they should be. Most conveyancer don't lend money. They should be governed by the SRA, who set specific laws in place on amounts deposited on client account.