IfI was to purchase a simple residential propertyin Park Royal mortgage fee and have no survey and no conveyancing searches how much could I expect to to save on my conveyancing in Park Royal?
Any savings you would achieve will be limited to the costs for searches. A solicitor still got to do everything else - money laundering, liaising with your sellers lawyer, SDLT submission, register the ownership etc. A marginal saving might be made by not having to register a mortgage but it will not be significant.
My lawyer in Park Royal is not on the The Royal Bank of Scotland Conveyancing Panel. Is it possible for me to retain my prefered solicitor even though they are excluded from the The Royal Bank of Scotland approved list?
The limited options open to you here include:
- Carry on with your existing Park Royal lawyers but The Royal Bank of Scotland will need to use a lawyer on their panel. This will inevitably rack up the total legal charges as well as result in delays.
- Get a new lawyer to act in the purchase, remembering to check they are The Royal Bank of Scotland approved.
- Persuade your The Royal Bank of Scotland solicitor to attempt to join the The Royal Bank of Scotland panel
Can you point me to a directory of UBS panel conveyancers in Park Royal on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few banks make their panel listings visible on the web. Where you are seeking to appoint a Park Royal solicitor on the UBS please use our facility.
I have today made my last payment due on my mortgage with Clydesdale. I assume I don't need a Park Royal lawyer on the Clydesdale panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Clydesdale mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Clydesdale mortgage from the register. Clydesdale, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Clydesdale has sent the Land Registry the discharge electronically, and
- Clydesdale has instructed the Land Registry to do so
I can not fathom if my mortgage offer requires a lease extension. I have called into my local Park Royal bank branch on numerous occasions and was told it wasn't a problem and they will lend. My Park Royal conveyancing solicitor - who is on the bank conveyancing panel- called and was told they will not lend in accordance with their published requirements. Who do I believe?
Provided that the lawyer is on the bank panel, she or he must follow the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Are there restrictive covenants that are commonly identified during conveyancing in Park Royal?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Park Royal. 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…’
About to purchase a new build apartment in Park Royal. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Park Royal
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
My wife and I are purchasing a studio flat in Park Royal. When we first instructed conveyancer, they said that they were on all major UK bank panels. Our financial adviser emailed today to advise that they don't seem to be on the TSB approved list. Were it to be true, what should we do? Do we just find a new solicitor that is on their panel or do we pay for dual representation, with TSB selecting their own approved solicitor.
When purchasing a property with mortgage finance it is standard for the buyer’s lawyers to also represent the mortgage company. In order to act for a bank or building society a solicitor has to be on that lender's list of approved lawyers. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict criteria which the lawyer has to fulfill. Some banks now require their panel firms to be part of the Law Society’s Conveyancing Accreditation Scheme. Your conveyancing practitioner should contact TSB and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on TSB's conveyancing panel as you are at liberty to use your preferred Park Royal lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.