My husband and I are purchasing a 1 bedroom flat in Brent Park with a mortgage. We have a Brent Park conveyancer, however the mortgage company advise she’s not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or keep our Brent Park property lawyer as well as pay for one of their panel firms to act for them. This seems very unfair; are we not able to insist that the mortgage company use our Brent Park lawyer ?
Unfortunately,no. 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. A further alternative is for your Brent Park conveyancing solicitor to apply to be on the conveyancing panel.
I completed on my house on 16 September and the transaction details is not yet on the land registry website. Should I be concerned? My conveyancing solicitor in Brent Park expressed confidence that it should be recorded inside ten days. Are properties in Brent Park uniquely lengthy to register?
There is nothing unique about conveyancing in Brent Park registration formalities. As opposed to being determined by geographic area, timescales can differ subject to the party submitting the application, whether it is in order and if the Land registry must send notices to any 3rd parties. As of today approximately three quarters of such applications are fully addressed within two weeks but occasionally there can be extensive hold-ups. Registration occurs after the purchaser has moved in to the property therefore post completion formalities is not typically top priority yet where 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.
How does conveyancing in Brent Park differ for new build properties?
Most buyers of new build residence in Brent Park come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is built. This is because house builders in Brent Park tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Brent Park or who has acted in the same development.
I decided to have a survey done on a property in Brent Park ahead of retaining solicitors. I have been told that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies tend refuse to issue a loan on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. If you call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Brent Park. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Brent Park to see if the conveyancing costs will increase in light of this.
What makes your site different to alternative web based conveyancing brokers when it comes to conveyancing in Brent Park?
At this site receive a fixed fee costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the nuances of your conveyancing in Brent Park. Unlike many estate agents and brokerage sites we do not have kick-back arrangements with solicitors. Some agents and online brokers 'recommend' the firm who pay the highest commission, not the best value conveyancing in Brent Park
We are in the process of selling our flat in Brent Park. Conveyancing lawyers are doing their job but we have been asked to pay a fortune by the managing agents. To date we have paid £275 for a leasehold management pack and then another £117.20 for responses to questions raised by the purchaser's solicitor.
You will not have control over the level of the fee for this information however the average costs for the information for Brent Park leasehold premises is £355. For Brent Park conveyancing deals it is customary for the seller to pay for these costs. The landlord or their agents are not duty bound to address such questions although many will agree to do so - albeit often at high prices out of proportion to the work involved. Unfortunately there is no law that requires fixed fees for administrative tasks. Nor is there any legal time frame by which they are required to issue answers.