My husband and I are purchasing a 1 bedroom flat in Kilburn with a mortgage. We wish to retain our Kilburn conveyancer, however the mortgage company advise he's not on their "panel". It seems we have no choice but to appoint one of the bank panel solicitors or retain our Kilburn conveyancer and pay for one of their panel firms to represent them. This seems very unfair; are we not able to demand that the lender use our Kilburn conveyancing practitioner ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Kilburn conveyancing lawyer to apply to be on the conveyancing panel.
Why is leasehold purchase conveyancing in Kilburn is more expensive?
In short, leasehold conveyancing in Kilburn and elsewhere usually warrants more work compared to freehold transactions. This includes lease investigation, liaising with the landlord about the service of appropriate notices, procuring up-to-date service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first granted.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Kilburn so that I can pop in to their offices when needed.
Whereas this was necessary 12 years ago, the vast majority banks no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide identification documents and there are still manifest benefits to choosing a locally based practitioner, in your case a conveyancing solicitor in Kilburn.
Are there restrictive covenants that are commonly identified during conveyancing in Kilburn?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Kilburn. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
We're novice buyers - agreed a price, but the agent has warned us that the owners will only move forward if we use the agent's preferred lawyers as they want a ‘quick sale’. We would rather use a local conveyancer with experience of conveyancing in Kilburn
It is improbable the owners are behind this. If they require ‘a quick sale', turning down a serious purchaser is going to damage their objectives. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are ready to progress, with finances arranged © you are chain free (d) you wish to move quickly (e)but you are going to instruct your preferred Kilburn conveyancing lawyers - as opposed tothose that will provide the estate agent a commission or hit his conveyancing figures set by senior management.
Why do I have to supply my lawyer with a list of items of identification ahead of starting my conveyancing in Kilburn?
Kilburn lawyers are duty bound by the Law Society, SRA, HMLR and current Money Laundering Regulations to certify that the have verified the identity of their clients. It is also sometimes a requirement of your mortgage offer. Furthermore they have to complete various forms, particularly those relating to Land Tax and need to have information such as your full names, national insurance number and DOB.