My fiance’s dad is a conveyancing practitioner. I hope that I'll be able to get preferential pricing for conveyancing, However if that does not come materialise, what kind of fees would I typically be looking at for conveyancing in Potters Bar?
It’s prudent to get two or three conveyancing quotes. Do use our comparison tool on this page. You will notice that prices will be different but service levels do are distinct between solicitors as is the case with the vast majority of professional services.
My solicitor has discovered a defect with the lease for the apartment we are purchasing in Potters Bar. The other side have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancer says that he must check that the mortgage company is willing to move forward with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
My bid for a property was accepted at auction in Potters Bar. Conveyancing is necessary. What are my next steps?
Having legally bound yourself to purchase you will need to choose a conveyancing solicitor quickly as you will have a tight a drop dead date to complete the conveyancing. Every auction property will have an associated auction set of papers. This should include most,if not all of the documents that your lawyer will need. Where you are dealing with leasehold premises the conveyancing pack should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You must hand this to your appointed conveyancing solicitor as soon as possible. You also need to ensure that your finances are in place to complete the transaction on the set completion date.
Is it correct that all Potters Bar CQS (Conveyancing Quality Scheme) solicitors are on the Nottingham conveyancing list of approved solicitors?
It is true that some banks and building societies now use the accreditation scheme as the kick off point for Panel approval 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 firms.
We were going to get a AIP from Leeds Building Society this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any Potters Bar solicitors on the Leeds Building Society conveyancing panel, or is it better to go independently?
You will need to appoint Potters Bar solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
We are buying a property and the solicitor has identified Chancel Repair to which the house could be obligated to pay because it falls into the area of such a church. She has mentioned insurance. Is this really required for conveyancing in Potters Bar
Unless a prior purchase of the house took place after 12 October 2013 you may assume that solicitors handling conveyancing in Potters Bar to continue to recommend a chancel search and or chancel repair liability insurance.
I have recently realised that I have 62 years unexpired on my flat in Potters Bar. I am keen to get lease extension but my freeholder is absent. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you have used your best endeavours to locate the freeholder. For most situations a specialist may be useful to conduct investigations and to produce an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Potters Bar.
Following years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Potters Bar. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to calculate the amount due.
An example of a Lease Extension decision for a Potters Bar 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 lease term was 76 years.
Our conveyancer in Potters Bar has discovered a a problem with the lease for the flat we are buying in Potters Bar. The other side have suggested defective title insurance as a solution. We are content with insurance and will pay for it. Our lawyer says that as he is on the mortgage company conveyancing panel he must check that the lender is happy with this solution. Are we the client or is the bank?
Just because you have a mortgage offer from the mortgage company does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Potters Bar conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. These conveyancing instructions must be adhered to by the bank conveyancing panel who has to balance acting for you and the bank