Unfortunately I am unable to travel far from Park Royal. Can you please clarify why all Park Royal lawyers are not on all lender panels?
Even though it may seem unfair for banks to limit who can represent them, from the public’s or lawyer’s point of view, the flip side is that lending institutions are increasingly anxious and consider it vital to protect them from illegal activities. As a consequence of this concern mortgage companies have consolidated their panel of approved conveyancing lawyers to a size that they are happy to control.
My wife and I are approaching an exchange on a flat in Park Royal and my parents have sent the exchange deposit to my conveyancer. I am now informed that as the deposit has not come from me my property lawyer needs to make a notification to my bank. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I informed the mortgage company about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
The solicitor is legally required to check with lender to make sure that they know that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
It is is a decade since I purchased my home in Park Royal. Conveyancing solicitors have just been instructed on the sale but I am unable to locate my title documents. Will this cause complications?
Don’t worry too much. Firstly there is a chance that the deeds will be kept by the mortgage company or they could be in the possession of the conveyancers who acted in your purchase. Secondly the chances are that the land will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors procuring up to date copy of the land registers. Almost all conveyancing in Park Royal involves registered property but in the rare situation where your property is not registered it adds to the complexity but is not insurmountable.
A friend pointed out to me me that in buying a property in Park Royal there could be a number of restrictions affecting the ability to carry out external changes to the property. Is this right?
There are anumerous of properties in Park Royal which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Park Royal should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We have agreed to purchase a house in Park Royal. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Barclays be concerned?
Given that you are obtaining a mortgage with Barclays your lawyer must comply with the formal instructions outlined in Section two of UK Finance Lenders’ Handbook for Barclays. The CML Handbook contains minimum conditions for solar panel roof-space leases, and solicitors are required to report to Barclays where a lease fails to satisfy these provisions. The conditions relate to the installation of panels on properties in England and Wales and is not restricted to Park Royal.
Our offer on a detached house in Park Royal has been accepted, but there is a chain. The vendors have put an offer on on an apartment, however it’s not yet tied up, and are looking at other flats booked. I have selected a bricks and mortar conveyancing solicitor in Park Royal. What do I do now? At what stage should I apply for the mortgage with Nationwide?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey, Park Royal conveyancing search charges, etc). The first course of action is to ensure that your conveyancer is on the Nationwide approved list. Concerning the next stages this very much dictated by the uniqueness of your case, attraction to this property and on the state of the market. During a hot market some buyers will apply for a home loan with Nationwide and arrange for the valuation and only if it comes back ok would they request their property lawyer to press on with the conveyancing in Park Royal.
Me and my brother own a renovated Edwardian house in Park Royal. Conveyancing solicitor acted for me and Clydesdale. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold with the matching address. Is it worth asking Clydesdale to clarify?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Park Royal and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing practitioner who conducted the purchase.