It has come to my attention via my IFA that my New Barnet solicitor is not on the bank Solicitor panel. How can I be certain if this is indeed the case?
Your first step should be to call your New Barnet lawyer directly. You lawyer should inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
What happens if my solicitor is removed from the TSB Conveyancing panel ahead of completing my conveyancing in New 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.
I am looking for a leasehold apartment up to £235,500 and identified one near me in New Barnet I like with open areas and transport links nearby, the downside is that it's only got 61 remaining years left on the lease. There is not much else in New Barnet suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
Am I right to be suspicious about third parties that I am dealing with are encouraging me to use a nationwide conveyancing firm as opposed to a High Street New Barnet conveyancing practice?
As with many service providers, often suggestions from family and friends can be extremely useful or valuable. Yet there are numerous parties with a keen interest in a conveyancing matter; estate agents, financial adviser and mortgage companies may put forward lawyers to use. Sometimes these lawyers might be known to one of the organisations as one of the best in their field, but sometimes there may be a financial incentive behind the endorsement. You have the right to appoint your preferred conveyancer. However, bear in mind that most mortgage providers operate an approved list of conveyancers you are obliged to use for the lender related work in your house move.
Estate agents have just been given the go-ahead to market my ground floor flat in New Barnet. Conveyancing is yet to be initiated, but I have recently received a yearly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge the maintenance contribution as you normally would because all ground rent and service invoices will be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Having spent months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in New Barnet. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a missing landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to arrive at the price payable.
An example of a Lease Extension matter before the tribunal for a New Barnet residence 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 was in relation to 1 flat. The number of years remaining on the existing lease(s) was 76 years.
How easy is it to change a solicitor as I need to find a New Barnet based one who is on the bank conveyancing panel. Is it advisable to appoint a new law firm?
In the event that you have not formally instructed a conveyancer to start work and at this stage simply received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in New Barnet that you're thinking of instructing.