I am progressing with the sale of my home in Hampton and the EA has just called to advise that the purchasers are changing their law firm. I am told that this is due to the fact that the lender will only deal with property lawyers on their conveyancing panel. Why would a big named mortgage company only work with certain law firms rather the firm that they want to choose for their conveyancing in Hampton ?

Mortgage companies have always had an approved set of law firms that can represent them, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.

Banks point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to maintain. 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. 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. Your buyers are not going to have any sway in the decision.

I own a freehold house in Hampton yet charged rent, why is this and what is this?

It is rare for properties in Hampton and has limited impact for conveyancing in Hampton 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 date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.

Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.

Are the BSA planning on creating a search tool with a view to to identify law firms on the Coventry BS conveyancing panel for instance in Hampton?

We would not expect to be advised of any intention on the part of the BSA to develop such a tool.

I need some expedited conveyancing in Hampton as I am faced with a deadline to exchange contracts within 3 weeks. A home loan is not required. Can I decline from having conveyancing searches to save money and time?

As you are not obtaining a mortgage you have the choice not to have searches conducted although no conveyancer would recommend that you don't. With lots of history conveyancing in Hampton the following are examples of what can arise and therefore impact market value: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Unadopted Roads,...

My wife and I have AIP from Platform Home Loans Ltd who said that they will loan up to £350k. At what point do we need to appoint a solicitor for conveyancing? Hampton is where we are buying.

You can appoint a lawyer now so that the conveyancer can open the ledger so they can commence the ID checks etc. If and when you wish them to start work they will seek a payment on account usually about £175. That would generally be once you have the mortgage offer and survey results, but if you wish to expedite the process you can start quicker albeit risking some money.