I am 4 weeks into the sale of my home in Rhos On Sea and the EA has just called to advise that the purchasers are appointing a new solicitor. The reason given is that the lender will only deal with property lawyers on their conveyancing panel. Why would a leading lender only engage with certain solicitors rather the firm that they want to select for their conveyancing in Rhos On Sea ?

Lenders have always had panels of law firms that can represent them, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.

Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to oversee. No lender will say 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 sway in the decision.

In what way does my ID and proof of funds have anything to do with my conveyancing in Rhos On Sea? Why is this being asked of me?

Rhos On Sea conveyancing solicitors and indeed property practitioners throughout the UK have an obligation under money laundering regulations to check the ID of any client in order to ensure that clients are who they say they are.

Conveyancing clients are required to provide two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and evidence of address (usually a Bank Statement no older than three months).

Confirmation of source of monies is also required in compliance with the money laundering regulations as conveyancers are duty bound to check that the funds you are utilising to acquire a property (whether it be the deposit for exchange or the full purchase amount where you are buying without a mortgage) has come from legitimate source (such as employment savings) rather than the proceeds of criminal behaviour.

Do the Building Society Association intend to launch a online directory to to identify firms on the Melton Mowbray Building Society conveyancing panel for example in Rhos On Sea?

We are not aware of any intention on the part of the BSA to promote such a search facility.

I just bought a flat at auction in Rhos On Sea. Conveyancing is needed. What is next?

Having legally committed yourself to purchase you now have to find a conveyancing practitioner as a matter of urgency as you are faced with a pending deadline in which to complete the purchase. An auction property should have an associated legal pack. This should include evidence of title and search results. Where you are dealing with leasehold property the conveyancing papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You should hand this to your appointed conveyancing solicitor ASAP. You also need to ensure that you have funds in order to complete the transaction on the set completion date.

I'm the single beneficiary of my late mum's will and I have everything in my name alone, including the house in Rhos On Sea. The Rhos On Sea property was put into my name in October. I plan to dispose of the house. I understand that there is a CML six month 'rule', which means that my property ownership will be regarded the same way as though I had purchased the property in October. Will no one buy the property for half a year?

The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How sensible a view mortgage companies take of it, depend on the lender as this provision primarily exists to pick up on the purchase and immediately sell or the flipping of property.

I have a mortgage with HSBC for my property in Rhos On Sea. Conveyancing was finalised some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform HSBC?

You must advise HSBC prior to renting your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel solicitor.

I decided to have a survey carried out on a house in Rhos On Sea in advance of retaining conveyancers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some lenders tend not give a loan on a flying freehold home.

It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. If you e-mail us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Rhos On Sea. Conveyancing will be smoother if you use a solicitor in Rhos On Sea especially if they regularly deal with such properties in Rhos On Sea.