Me and my partner are buying a 3 bedroom flat in Wembley Central with a mortgage. We like our Wembley Central solicitor, but the mortgage company says she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or retain our Wembley Central solicitor and pay for one of their panel ones to act for them. This feels very unfair; are we not able to require that the bank use our Wembley Central property lawyer ?
No, not really. Your mortgage offer 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. A further alternative is for your Wembley Central conveyancing solicitor to apply to be on the conveyancing panel.
I am getting closer to an exchange on a house in Wembley Central and my parents have transferred the 10% deposit to my conveyancing practitioner. I am now informed that as the deposit has been sent from someone other than me my lawyer needs to disclose this to my lender. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the bank about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
The property lawyer is duty bound to clarify with mortgage company to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
I have a decision in principle. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to use their panel solicitor as I would prefer to instruct a Wembley Central based conveyancing firm?
You should check but the chances are that appoint one of their panel lawyers should you accept the "fee-free" deal. Contact the lender to determine if they allow a monetary alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor near Wembley Central.
I require quick conveyancing in Wembley Central as I am under an ultimatum to exchange contracts within 2 weeks. Fortunately I do not require a mortgage. Can I avoid the conveyancing searches to save fees and time?
As you are not obtaining a mortgage you are at free not to have searches carried out although no solicitor would suggest that you don't. Drawing on years of experience of conveyancing in Wembley Central the following are instances of what can show up and adversely impact future saleability: Refused Planning Applications, Outstanding Charges, Overdue Grants, Railway Schemes,...
Just acquired a semi-detached house in Wembley Central , how long will it take for the Land Registry to record my ownership? My Wembley Central conveyancing solicitor works at snail pace, so I want to check that my name is registered.
As far as conveyancing in Wembley Central is concerned, registration is no faster or slower than anywhere else in the country. Rather than based on location, timescales can vary subject to the party submitting the application, whether it is in order and if the Land registry communicate with any third persons or bodies. At present roughly 80% of such applications are completed in less than three weeks but occasionally there can be extensive hold-ups. Registration occurs after the purchaser is living at the premises therefore post completion formalities is not typically primary concern but if it is urgent that the the registration takes place urgently then you or your solicitor could communicate with the Registry to express the reasoning for the application to be prioritised.