We are buying a 2 bedroom apartment in Wembley with a mortgage. We like our Wembley lawyer, however the mortgage company advise she’s not on their "panel". It appears that we have no option but to instruct one of the mortgage company panel conveyancing practices or continue with our Wembley solicitor as well as pay for one of their panel lawyers to act for them. We feel that this is unjust; is there anything we can do?
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 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 Wembley conveyancing lawyer to apply to be on the conveyancing panel.
We expect to receive a OIP from Barclays this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Barclays recommend any Wembley solicitors on the Barclays conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Wembley solicitors independently although you'll need to choose one on the Barclays conveyancing panel. The solicitor represents both you and Barclays through the process.
It is not clear whether my bank requires a lease extension. I have called into my local Wembley bank branch on various occasions and was told they are content with the situation and they would lend. My Wembley conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend in accordance with their specific requirements. Who do I believe?
Provided that the lawyer is on the lender approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook requirements 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 remaining.
Intending to buy a house in Wembley. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Leeds Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Wembley conveyancer is on the Leeds Building Society conveyancing panel.
We are downsizing from our home in Wembley and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any local lawyer would know this is not the case. It does beg the question why the buyers instructed a national conveyancing outfit rather than a conveyancing solicitor in Wembley. Having lived in Wembley for 5 years we know of no issue. Should we contact our local Authority to seek confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing firm 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 life insurance to cover that same illness)
3 months have gone by since my purchase conveyancing in Wembley took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm converting the mortgage on my existing home to a buy to let mortgage with Lloyds TSB Bank and I will use the rest of the raised equity towards further house. The neighborhood we are interested in is Wembley. Will your conveyancers be able to act for both sets of banks and link together the transactions?
Do use our search tool on this page to be sure that the solicitors are approved by both banks. Assuming that they are the solicitor should be able to connect the two deals but you should have a chat with you lawyer and make apparent your desired outcome and requirements.