The Friern Barnet conveyancing firm handling our Friern Barnet conveyancing has spotted an inconsistency between the assumptions in the valuation report and what is in the legal papers for the property. My solicitor says that he needs to check that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action legitimate?
Your solicitor must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Can you clarify what the consequences are if my solicitor is suspended from the Kent Reliance Conveyancing panel ahead of completing my conveyancing in Friern Barnet?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Can you help - my lawyer advises that missing deeds insurance is necessary on my purchase. What is the level of cover for Friern Barnet conveyancing?
The right level of missing deeds indemnity insurance depends on your lender. It would differ for example between Lloyds TSB Bank and Norwich and Peterborough Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
How can we know in advance if a Friern Barnet conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in Friern Barnet seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor handling your transaction.
After shopping around on the internet I have found a Friern Barnet conveyancer having made sure that they are on the Clydesdale conveyancing panel. Does my lawyer arrange the survey of the property?
Clydesdale will need an independent valuation of the property. Your lawyer will not arrange this. Usually Clydesdale will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Friern Barnet surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Do I need to pay for insurance to protect me from financial exposure to chancel repairs when buying a house in Friern Barnet?
Unless a previous purchase of the premises completed after 12 October 2013 you may expect lawyers conducting conveyancing in Friern Barnet to continue to recommend a chancel search and or chancel repair liability policy.
I have recentlydiscovered that Wolstenholmes have closed. They carried out my conveyancing in Friern Barnet for a purchase of a leasehold apartment 12 months ago. How can I check that my home is registered correctly in the name of the former proprietor?
The easiest method to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Friern Barnet conveyancing specialists.
I am looking for a leasehold apartment up to £245,000 and identified one round the corner in Friern Barnet I like with open areas and railway links nearby, however it only has 52 remaining years left on the lease. I can't really find anything else in Friern Barnet in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a home loan that many years may be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.