My wife and I are intending to buy a 2 bedroom flat in The Park with a mortgage. We would like to retain our The Park lawyer, but the lender advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our The Park conveyancing practitioner and pay for one of their panel ones to act for them. We feel that this is unjust; can we not require that the lender use our The Park conveyancer ?
Unfortunately,no. 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 The Park conveyancing solicitor to apply to be on the conveyancing panel.
I am acquiring a house without a mortgage in The Park. I have lived for the last dozen years in The Park. Conveyancing searches are a lot of money. As I have knowledge of the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a mortgage, then the vast majority of the The Park conveyancing searches are at your discretion. Your solicitor will 'advise', perhaps strongly, that you should have searches completed, but he has a professional duty to take that path of guidance. Do bear in mind; if you are going to dispose of the house at a future date, it will be of interest to your prospective purchaser what the searches contain. Sometimes premises with functional issues can still show up adverse search results. A competent conveyancing solicitor in The Park should provide you some practical guidance here.
It is is a decade since I bought my home in The Park. Conveyancing lawyers have recently been retained on the sale but I can't locate my title deeds. Is this a problem?
You need not be too concerned. First there is a possibility that the deeds will be retained by the lender or they could be in the possession of the solicitor who handled your purchase. Secondly the chances are that the title will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers procuring up to date copy of the land registers. Most conveyancing in The Park relates to registered property but in the rare situation where your home is not registered it is more tricky but is not insurmountable.
I have been told that property searches are the number one reason for hinderance in The Park house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of delay in conveyancing in The Park.
Do I need to be suspicious by third parties that I am dealing with are suggesting a factory type conveyancing firm as opposed to a local The Park conveyancing firm?
As is the case with lots of service providers, often referrals from relatives can be extremely useful or valuable. But there are many people with a vested interest in a conveyancing deal; estate agents, financial adviser and banks may put forward solicitors to use. Sometimes the solicitors might be known to one of the organisations as one of the best in their field, but occasionally there is an underlying financial incentive behind the recommendation. You have the discretion to select your preferred conveyancer. However, bear in mind that some mortgage providers specify a panel list of conveyancers you must use for the lender aspect of your house move.