I am six weeks into the sale of my maisonette in New Barnet and the EA has just e-mailed to warn that the purchasers are switching solicitor. The excuse is that the lender will only deal with solicitors on their approved list. On what basis would a leading mortgage company only deal with specific solicitors rather the firm that they want to select to handle their conveyancing in New Barnet ?
UK lenders have always had an approved set of law firms that can act for them, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders point to the increase in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that 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 purchasers are not going to have any impact on this.
It is is a decade since I purchased my home in New Barnet. Conveyancing solicitors have just been appointed on the sale but I am unable to find the title deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly the deeds may be with the mortgage company or they could be in the possession of the conveyancers who acted in your purchase. Secondly the likelihood is that the title will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers procuring up to date copy of the land registers. Nearly all conveyancing in New Barnet involves registered property but in the rare situation where your home is unregistered it is more of a problem but is not insurmountable.
I opted to have a survey completed on a house in New Barnet in advance of instructing lawyers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks may not give a mortgage on a flying freehold premises.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. Should you wish to telephone us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in New Barnet. Conveyancing will be smoother if you use a solicitor in New Barnet especially if they are accustomed to such properties in New Barnet.
Given that I am about to spend hundreds of thousands of pounds on a terraced house in New Barnet I would like to have a conversation with the lawyer about myhome move prior to giving the go ahead to the firm. Can this be arranged?
This is something that we recommend - it is our preference to talk to you we do not take any clients on without you liaising with the lawyer who will be doing your property ownership legalities in New Barnet.There is no ‘factory style conveyancing’ - each client is unique individual, not a case number. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in New Barnet should be the amount on the final invoice that you are charged.
Back In 2008, I bought a leasehold flat in New Barnet. Conveyancing and Santander mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in New Barnet who previously acted has long since retired. Any advice?
First make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a New Barnet conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a New Barnet conveyancing firm to act on my behalf?
if there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to judgment on the sum to be paid.
An example of a Lease Extension matter before the tribunal for a New Barnet flat is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The unexpired term as at the valuation date was 76 years.
Why is New Build conveyancing in New Barnet more expensive?
Acquiring a new build property is completely distinct from the standard house purchase conveyancing in New Barnet. Firstly housebuilders usually demand contracts to exchange inside a short timeframe, so there is a a great deal of pressure on your property lawyer to make sure everything is in order. In addition new build properties often involve examination of adoption of highways, drains, planning considerations, building warranties or architects certificates. Mortgage company obligations are also more detailed. Given the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.