My husband and I are planning to purchase a 1 bedroom apartment in Wembley with a mortgage. We would like to retain our Wembley solicitor, however the bank says he's not on their "panel". We have to appoint one of the bank panel conveyancing practices or keep our Wembley solicitor as well as pay for one of their panel lawyers to represent them. We regard this is inequitable; can we not insist that the bank use our Wembley lawyer ?
No, not really. The mortgage offered to you 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 Wembley conveyancing lawyer to apply to be on the conveyancing panel.
Finally the sale completed on my house in Wembley last August but our buyer keeps telephoning daily to moan that their lawyer needs to hear from mine. What should have happened following completion?
Following your sale your solicitor is duty bound to send the transfer deeds and all additional paperwork to the buyer’s lawyers. Where relevant, your solicitor should also send confirmation that the mortgage has been paid off to the buyers lawyers. There is unlikely to be post completion tasks unique to conveyancing in Wembley.
My aunt pointed out to me me that in purchasing a property in Wembley there could be various restrictions prohibiting external changes to the property. Is this right?
There are a number of properties in Wembley which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Wembley should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Can you point me to a directory of Principality panel conveyancers in Wembley on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association websites. A small selection of banks make their panel listings viewable over the internet. If you are in need of a Wembley conveyancer on the Principality please use our tool.
We are getting the release of further funds on our mortgage from Lloyds as we want to carry out alterations to our house in Wembley. Are we obliged to choose a nearby Wembley solicitor on the Lloyds conveyancing panel to deal with the paperwork?
Lloyds do not ordinarily instruct firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Lloyds conveyancing panel.
My step-father has recommend that I instruct his conveyancing solicitors in Wembley. Should I use them?
There are no two ways about it it’s preferable to choose a conveyancing practitioner is to get guidance from friends or relatives who have actually used the conveyancer that you are considering.
I am employed by a reputable estate agent office in Wembley where we see a few flat sales put at risk due to short leases. I have received inconsistent advice from local Wembley conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I own a ground-floor 1960’s flat in Wembley. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount due for a lease extension?
Most certainly. We are happy to put you in touch with a Wembley conveyancing firm who can help.
An example of a Lease Extension decision for a Wembley flat is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case was in relation to 1 flat. The unexpired term was 74 years.
Why do I have to supply my conveyancing practitioner with numerous items of ID ahead of starting my conveyancing in Wembley?
Wembley conveyancing practitioners are duty bound by the Law Society, Solicitors Regulation Authority, HM Land Registry and current Money Laundering Regulations to certify that the have verified the identity of their clients. It will also be a condition of your mortgage offer. Furthermore they have to complete various forms, particularly those relating to Land Tax and need to have details such as your full names, national insurance number and date of birth.