What does my ID and proof of funds have anything to do with my conveyancing in East Barnet? Is this really warranted?
In order to comply with Money Laundering Regulations any East Barnet conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility bill showing your correct address.
In accordance with Money Laundering Regulations, property lawyers are obliged by law to check not simply the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this will result in your conveyancer ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to inform the appropriate authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
I'm the sole beneficiary of my late mum's estate and I have everything in my name now, including the my former home in East Barnet. Conveyancing formalities meant that the Land Registry date was in May. I want to move. I do know about the CML 6 month 'rule', meaning my property ownership will be regarded the same way as though I had purchased the property in May. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. Most lenders would take a practical view as this requirement is chiefly there to identify subsales or the wholesaling and assigning of properties.
I can not work out if my mortgage offer requires a lease extension. I have telephoned my East Barnet building society branch on numerous occasions and was told it does not affect the mortgage offer and they will lend. My East Barnet conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your conveyancer must follow the CML Handbook section two requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am selling my flat. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Aldermore are being difficult. The East Barnet solicitor who is on the Aldermore conveyancing panel is saying indemnity insurance will be fine but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
It has been 2 months since my purchase conveyancing in East Barnet took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I've recently found out that there is a flying freehold element on a property I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. East Barnet is where the house is located. Is there any advice you can give?
Flying freeholds in East Barnet are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside East Barnet you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in East Barnet may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
In surfing the internet for the term conveyancing in East Barnet it shows results of many property lawyersin the area. With so much choice what is the best way to find the suitable conveyancing solicitor for me?
The preferential way of finding a suitable conveyancer is through a trusted recommendation, so seek the counsel of colleagues and those you trust who have bought a property in East Barnet or a reputable estate agent or financial adviser. Charges for conveyancing in East Barnet differ, so it's advisable to request a minimum of three estimates from varying types of conveyancers. Be sure to seek confirmation that the fees are fixed.
If all goes to plan we aim to complete the disposal of our £300,000 flat in East Barnet next week. The freeholder has quoted £348 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in East Barnet?
East Barnet conveyancing on leasehold maisonettes more often than not requires the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing to do so. They are at liberty to levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee invoiced by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the invoice is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.
After months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in East Barnet. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the LVT to determine the premium.
An example of a Freehold Enfranchisement decision for a East Barnet flat is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case related to 2 flats. The unexpired lease term was 70.31 years.