Me and my fiance are purchasing a 3 bedroom apartment in Kingsbury with a mortgage. We have a Kingsbury lawyer, but the lender advise she’s not on their "panel". It seems we have no option but to instruct one of the mortgage company panel conveyancing practices or keep our Kingsbury conveyancer as well as pay for one of their panel ones to represent them. We feel that this is unjust; can we not insist that the bank use our Kingsbury conveyancing practitioner ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Kingsbury conveyancing lawyer to apply to be on the conveyancing panel.
As someone not used to the Kingsbury conveyancing process what’s your top tip you can impart concerning the ownership transfer in Kingsbury
You may not hear this from too many lawyers but conveyancing in Kingsbury or throughout North West London is often a confrontational process. In other words, when it comes to conveyancing there is plenty of room for friction between you and others involved in the ownership transfer. E.g., the seller, selling agent and even potentially the lender. Appointing a solicitor for your conveyancing in Kingsbury should not be taken lightly as your conveyancer is your adviser, and is the ONLY party in the process whose responsibility is to protect your legal interests and to protect you.
We are witnessing a distinct ongoing adversarial element to conveyancing- someone has to be at fault for the process being so protracted. We recommend that you your first instinct should be to trust your lawyer ahead of the other parties in the conveyancing process.
When it comes to mortgage companies such as Leeds Building Society, do Kingsbury solicitors face a yearly amount to be on the conveyancing panel?
We are unaware of any bank fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
We have agreed to purchase a house in Kingsbury. An unusual aspect is that the roof has a solar panel. Lloyds have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Lloyds your lawyer must comply with the conveyancing requirements outlined in Part 2 of UK Finance Lenders’ Handbook for Lloyds. The CML Handbook includes minimum conditions for solar panel roof-space leases, and conveyancers are required to report to Lloyds where a lease fails to meet these requirements. The provisions relate to the installation of panels on properties nationwide and is not limited to Kingsbury.
I was told four weeks ago that my mortgage has been agreed to by TSB. Is it usual for TSB to only issue the offer once my solicitor in Kingsbury is approved on their conveyancing panel? TSB have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for TSB to deal with your lawyer's application to be on the TSB conveyancing panel. There's no guarantee that your solicitor will be accepted.
Due to the advice of my in-laws I had a survey completed on a house in Kingsbury prior to retaining lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some lenders will not issue a loan on such a premises.
It depends who your proposed lender is. Lloyds has different requirements for example to Halifax. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Kingsbury. Conveyancing will be smoother if you use a solicitor in Kingsbury especially if they are familiar with such properties in Kingsbury.
Am I better off to go with a Kingsbury conveyancing lawyer in close proximity to the house I am hoping to buy? An old friend can conduct the legal work but his firm is located 400miles away.
The benefit of a high street Kingsbury conveyancing practice is that you can pop in to sign documents, present your identification documents and apply pressure on them if necessary. Having local Kingsbury know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and the majority were happy that should trump using an unfamiliar Kingsbury conveyancing solicitor just because they are based in the area.
Been reading online that Kingsbury solicitors are more costly than Kingsbury conveyancers in Kingsbury when it comes to purchasing a house. So is it better if I use a conveyancer or a solicitor if I am buying a house in Kingsbury.
When it comes to conveyancing in Kingsbury the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.