Me and my fiance are buying a 3 bedroom apartment in Northwood with a mortgage. We like our Northwood solicitor, however the bank advise she’s not on their "panel". We have to appoint one of the bank panel firms or continue with our Northwood lawyer as well as pay for one of their panel firms to act for them. We regard this is inequitable; is there anything we can do?
No, not really. 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 Northwood conveyancing solicitor to apply to be on the conveyancing panel.
My wife and I are nearing an exchange on a house in Northwood and my mum and dad have transferred the exchange deposit to my property lawyer. I am now told that as the deposit has been received from someone other than me my conveyancer needs to make a notification to my mortgage company. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company about my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
The property lawyer is legally required to clarify with the bank to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
I completed on my flat on 10 September and my personal details is yet to be registered. Any reason for this? My conveyancing solicitor in Northwood advises it would be dealt with in a couple of weeks. Are transfers in Northwood particularly slow to register?
As far as conveyancing in Northwood is concerned, registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timeframes can vary according to who lodges the application, whether there are errors and if the Land registry must send notices to any other persons or bodies. Currently approximately three quarters of submission are completed in less than three weeks but some can be subject to extensive delays. Historically registration takes place after the buyer has moved in to the premises so an expedited registration is not always top priority but if there is a degree of urgency associated with the registration then you or your conveyancer could communicate with the Registry to express the reasoning for the application to be prioritised.
My brother has suggested that I use his lawyers for conveyancing in Northwood. Should I use them?
No doubt the ideal way to find a conveyancing practitioner is to get recommendations from friends or family who have used the conveyancer that you are considering.
Is it necessary during the course of the conveyancing process to visit the offices of the lender conveyancing panel solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Northwood as it will be easier to attend their offices when needed.
As opposed to ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Northwood.