My mortgage broker says he needs my Barbican law firm’s panel member for the Lloyds conveyancing panel. How do I discover this. I have tried my local Barbican branch but they have not responded to me.
The sensible thing to do is ask for this information from your Barbican conveyancing practitioner . Most Barbican conveyancing firms will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each lender.
It is 10 years ago since I purchased my property in Barbican. Conveyancing lawyers have recently been retained on the sale but I can't track down my deeds. Will this cause complications?
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 oversaw the purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors obtaining up to date copy of the land registers. Almost all conveyancing in Barbican relates to registered property but in the rare situation where your property is not registered it is more tricky but is resolvable.
Is it correct that all Barbican CQS (Conveyancing Quality Scheme) solicitors are on the Lloyds conveyancing panel?
It is true that some lenders now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
I am selling my apartment. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Lloyds are being problematic. The Barbican solicitor who is on the Lloyds conveyancing panel is recommending indemnity insurance as a solution but Lloyds are requiring a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?
It is probably the case that Lloyds have referred the matter to their valuer. The reason why Lloyds may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have instructed a Barbican solicitor having made sure that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS 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. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Barbican postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in Barbican.
I used Arc property Solicitors several years past for my conveyancing in Barbican. I now require my papers however the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Barbican of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
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At this site obtain a fixed fee quote via a Solicitor or Licensed Conveyancer that has a full understanding of the nuances of your conveyancing in Barbican. As opposed to estate agents and brokerage sites we are not in the business of charging firms a fee if you select them for your conveyancing in Barbican
I am looking at a two maisonettes in Barbican which have approximately forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Barbican is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. The majority of buyers and mortgage companies, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Barbican conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I own a a ground floor purpose built flat in Barbican. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?
Absolutely. We can put you in touch with a Barbican conveyancing firm who can help.
An example of a Lease Extension decision for a Barbican residence is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case related to 2 flats. The unexpired term as at the valuation date was 72.39 years.