My husband and I are planning to purchase a 3 bedroom apartment in Wembley Park with a mortgage. We would like to retain our Wembley Park lawyer, but the lender says he's not on their "panel". We have to appoint one of the bank panel firms or keep our Wembley Park lawyer as well as pay for one of their panel ones to represent them. We consider that this is inequitable; are we not able to demand that the bank use our Wembley Park conveyancer ?
Unfortunately,no. 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 Wembley Park conveyancing lawyer to apply to be on the conveyancing panel.
I require conveyancing for a flat in a fairly new development (6 years old) in Wembley Park. Almost all the appartments have already been sold. Is it really necessary to order conveyancing searches as part of conveyancing in Wembley Park?
A big part of the Wembley Park legal transfer of property is the conveyancing searches. There are hundreds companies delivering Wembley Park conveyancing searches, as well direct from the local authority. These are known collectively as personal search organisation due to them carrying out, personal searches. Nevertheless, all Local Authority Search conveyancing products have one thing in common - they must secure their information from the local authoritative source.
I have just over seventy years remaining on my lease and require a lease extension for my flat in Wembley Park. Conveyancing solicitors on the Tesco Bank panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 1/12/2023 the requirements read as follows :
My wife and I are downsizing from our property in Wembley Park and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. A local lawyer would know this is not the case. It does beg the question why the buyers instructed a web based conveyancing practice rather than a conveyancing solicitor in Wembley Park. Having lived in Wembley Park for 5 years we know of no issue. Should we contact our local Authority to obtain confirmation need.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I'm purchasing my first flat in Wembley Park with a loan from Barclays Direct. The developers would not move on the amount so I negotiated 6k of additionals instead. The estate agent advised me not inform my conveyancer about the side-deal as it would adversely affect my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Am I best advised to instruct a Wembley Park conveyancing practitioner based in the vicinity that I am purchasing? I have an old university friend who can execute the legal formalities however her office is 300miles drive away.
The primary upside of using a local Wembley Park conveyancing firm is that you can pop in to execute documents, present your identification documents and apply pressure on them where appropriate. Having local Wembley Park know how is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and in the main were happy that should outweigh using an unfamiliar Wembley Park conveyancing lawyer just because they are based in the area.