I am in the process of selling my maisonette in Barnet and the estate agent has just text me to warn that the purchasers are switching property lawyer. The reason given is that the mortgage company will only deal with property lawyers on their approved list. On what basis would a leading mortgage company only deal with specific solicitors rather the firm that they want to choose to handle their conveyancing in Barnet ?
UK lenders have always had panels of law firms that can represent them, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Mortgage companies attribute this action to a rise in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any sway in the decision.
We are a couple about to sign contracts for a garden flat in Barnet. We have hit a stumbling block. Our mortgage offer with Godiva Mortgages Ltd runs out on 1/6/2020 but the vendors are suggesting a completion date of 3/6/2020. Is it possible to prolong the mortgage offer?
The person best placed to address this question is your solicitors who will hopefully calculate whether he or she is corresponding with the mortgage broker, owner’s solicitors, estate agents or indeed all parties taking into account what has gone on in your transaction to date.
We are purchasing a apartment in Barnet. I might seem paranoid but how we can trust a conveyancer? On completion day we will need to deposit funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
When it comes to mortgage companies such as Bank of Ireland, do Barnet property lawyers incur an annual charge to be on the list of approved solicitors?
We are not aware of any bank fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Is there a list of HSBC panel conveyancers in Barnet on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association sites. A small selection of lenders make their panel listings visible on the web. Where you are in need of a Barnet solicitor on the HSBC please use our tool.
Do commercial conveyancing searches reveal planned roadworks that could affect a commercial premises in Barnet?
Its becoming the norm that commercial conveyancing solicitors in Barnet will execute a SiteSolutions Highways report as it reduces the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Barnet. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Barnet.
For every commercial conveyancing transaction in Barnet it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can cause delays to Barnet commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Barnet.
The estate agent has sent us the confirmation of our purchase of a new build flat in Barnet. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Barnet
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There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. Please confirm the Lease plans are architect prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
What are the differing property law services that Barnet conveyancing practices typically advise on?
Generally most Barnet conveyancing firms can offer a number of legal advice to home and land owners, vendors, first time buyers, freeholders and tenants and you can expect them to do some of the following services:
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Residential sale conveyancing in Barnet or throughout the rest of the country
House purchase conveyancing in Barnet and countrywide
Property Trust Declarations Shared equity purchase (part buying and part renting) Transfer of property or a share in a property All property dispute issues including rights of way and boundary disputes