We were just about to exchange contracts for a semi detached house in Chipping Barnet. We have hit a snag. The loan offer with Accord Mortgages Ltd runs out on 23/12/2025 but the owners are suggesting a completion date of 29/12/2025. Can one extend the mortgage offer?
The person best placed to deal with your concern is your conveyancer who will assess if he or she is better off negotiating with the mortgage company, owner’s solicitors, selling agents or possibly all three taking into account the circumstances your conveyancing as of today.
Why do I have to pay up front when it comes to conveyancing in Chipping Barnet?
If you are buying a property in Chipping Barnet your lawyer will ask you place them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the total price then this will be needed immediately in advance of contracts are exchanged. The closing balance that is due will be payable a couple of days prior to the day of completion.
I just bought a house at auction in Chipping Barnet. Conveyancing is required. What is next?
Given that you are now exchanged you will need to choose a conveyancing lawyer as a matter of priority as you will have a tight a drop dead date to complete the conveyancing. An auction property will ordinarily have an associated legal set of papers. This will likely include most,if not all of the paperwork that your conveyancer requires. Where you are dealing with leasehold property the conveyancing pack may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to a leasehold property. You need to give this to the lawyer instructed by you ASAP. You also need to ensure that your finances are in place to complete the transaction on the set completion date.
Are all Chipping Barnet Conveyancing Quality Solicitors on the RBS conveyancing list of approved practices?
Some major lenders now use CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
is it true that all Chipping Barnet conveyancing solicitors on the Leeds Building Society conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Leeds Building Society conveyancing panel they would need to be governed by the SRA. Some banks do list licenced conveyancers on their panel in which case such firms would be overseen by the CLC.
Should my solicitor be raising enquiries concerning flooding during the conveyancing in Chipping Barnet.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Chipping Barnet. There are those who buy a house in Chipping Barnet, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, but there are a various checks that may be initiated by the buyer or on a buyer’s behalf which can figure out the risks in Chipping Barnet. The conventional set of information sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the vendor to determine if the premises has ever been flooded. In the event that the residence has been flooded in past and is not notified by the seller, then a purchaser may bring a compensation claim stemming from an inaccurate answer. A purchaser’s lawyers will also order an environmental report. This will indicate whether there is a recorded flood risk. If so, further investigations will need to be made.
How does conveyancing in Chipping Barnet differ for new build properties?
Most buyers of new build premises in Chipping Barnet approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Chipping Barnet typically purchase the real estate, 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 accustomed to new build conveyancing in Chipping Barnet or who has acted in the same development.
I am looking into buying my first house which is in Chipping Barnet and I am already nervous. I couldn't find anything specific about Chipping Barnet. Conveyancing will be needed in due course but do you know about the Chipping Barnet area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Chipping Barnet. In the meantime here are some basic statistics that we found