I plan on acquiring property in Friern Barnet. My lawyer is not on the bank conveyancing panel. Am I still permitted to use my Friern Barnet conveyancing solicitor notwithstanding that they are not on the mortgage company panel of approved conveyancing solicitors?
Various options include
- Complete the purchase with your preferred Friern Barnet lawyer but your bank will need to retain a conveyancer from their conveyancing panel. This will result in additional fees together with likely frustration.
- Get a fresh conveyancing practitioner to conduct the conveyancing, obviously checking they are on the lender conveyancing panel.
- Convince your lawyer to apply to join the bank panel
Why do I have to pay up front for conveyancing in Friern Barnet?
Where you are retaining lawyers for conveyancing in Friern Barnet your lawyer will request that you to provide them with monies to cover the search fees. Generally this is asked for to cover the fees of the conveyancing searches. When the deposit is as part of the purchase price then this will be required shortly prior to exchange of contracts. The closing balance that is needed will be payable shortly before completion.
I am planning to acquire a property and need a conveyancing solicitor in Friern Barnet who is on the Accord Mortgages Ltd solicitor. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Accord Mortgages Ltd in certain locations such as Friern Barnet. We dont recommend any particular firm.
Are all Friern Barnet Conveyancing Quality Solicitors on the Virgin Money conveyancing panel?
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. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
When it comes to mortgage companies such as Coventry BS, do Friern Barnet property lawyers face an annual charge to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
My offer was accepted on a property in Friern Barnet on 11/4/2023, valuation was booked 2 days later, received a clean bill of health. Conveyancer retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Nationwide and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Nationwide conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Nationwide to deal with your lawyer's application to be on the Nationwide conveyancing panel. There's no guarantee that your solicitor will be accepted.
I know that there are debates on Chancel Insurance on online forums. Am I compelled to take this when buying a residence in Friern Barnet? or I am told that there is a law dating back centuries that means some owners of property living in a parish church boundary may be liable to pay for repairs to the chancel in proximity to the church. Is this appropriate for conveyancing in Friern Barnet?
Unless a previous acquisition of the premises completed after 12 October 2013 you could take it that solicitors handling conveyancing in Friern Barnet to remain recommending a chancel search and or chancel repair liability policy.
I am a negotiator for a busy estate agent office in Friern Barnet where we see a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Friern Barnet conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a ground floor flat in Friern Barnet. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
Most definitely. We can put you in touch with a Friern Barnet conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Friern Barnet premises is 90 & 96 Poplar Grove in June 2013. It was held by the Tribunal that the premium to be paid for the new lease in respect of each of the flats referred should be £17,942 This case related to 2 flats. The remaining number of years on the lease was 68 years.