We are nearing an exchange on a property in Wembley Park and my mum and dad have transferred the exchange deposit to my lawyer. I am now advised that as the deposit has been sent from someone other than me my conveyancing practitioner 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 bank about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your conveyancer is obliged to check with lender to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Do banks and building societies provide you with an approved list of Wembley Park conveyancing solicitors? How do you know who is on the Co-operative conveyancing panel?
Wembley Park conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
We wanted to use a conveyancing solicitor in Wembley Park for our home move. Our financial adviser informed us that our mortgage company Britannia won't deal with them. Surely this is unduly restrictive?
A decade ago most lenders had a different appetite for risk. Almost all Wembley Park conveyancing firms would have been on many mortgage company panels. The FSA in 2010 carried out a thematic investigation into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more data from law firms about their operations and their employees as well as set certain criteria such a completing on a minimum number of conveyancing. Many Wembley Park conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Wembley Park is one of the thousands of areas where the lawyers we list are are authorised to act for Britannia.
How does conveyancing in Wembley Park differ for newly converted properties?
Most buyers of new build or newly converted property in Wembley Park contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Wembley Park tend to acquire the land, 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 conveyancing solicitors 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 used to new build conveyancing in Wembley Park or who has acted in the same development.
What does commercial conveyancing in Wembley Park cover?
Wembley Park conveyancing for business premises incorporates a broad array of guidance, provided by qualified solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I need to instruct a conveyancing lawyer in Wembley Park for my purchase. Can I check a solicitor's record with the profession’s regulator?
You may review published Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find details about the period before 1 January 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training requirements.