We are buying a 3 bedroom flat in Barnet with a mortgage. We like our Barnet conveyancer, but the mortgage company advise she’s not on their "panel". It appears that we have no choice but to instruct one of the bank panel conveyancing practices or keep our Barnet solicitor as well as pay for one of their panel firms to act for them. We feel that this is inequitable; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Barnet conveyancing solicitor to apply to be on the conveyancing panel.
Why do I have to pay up front for my conveyancing in Barnet?
Where you are retaining lawyers for conveyancing in Barnet your lawyer will ask you to provide them with monies to cover the the cost of the conveyancing searches. Normally this is asked for to cover the fees of the conveyancing searches. If any down payment is as part of the purchase price then this will be asked for shortly prior to contracts are exchanged. The final balance that is due should be transferred a couple of days ahead of the day of completion.
How does conveyancing in Barnet differ for new build properties?
Most buyers of new build property in Barnet approach us having been asked by the seller to sign contracts and commit to the purchase even before the residence is finished. This is because builders in Barnet usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Barnet or who has acted in the same development.
I have been on the look out for a flat up to £235,500 and found one near me in Barnet I like with a park and station nearby, however it's only got 49 remaining years left on the lease. There is not much else in Barnet suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan that many years may be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
As co-executor for the will of my grandmother I am disposing of a house in Newport but reside in Barnet. My lawyer (based 235 kilometers awayhas requested that I sign a stat dec prior to the transaction finalising. Could you suggest a conveyancing lawyer in Barnet who can witness this legal document for me?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are Barnet based
I am seeking to purchase a repossessed flat in Barnet and the bank selling require completion within a month. Can a lawyer complete in this timeframe? Would it be better to use a local Barnet firm or an online organisation that advertises to complete quickly?
Visit your Barnet shopping parade. Pop in to 3 firms and ask to see a conveyancing solicitor for a quote. Discuss your situation and try and obtain a commitment on time frames. Choose the firm that appears most trustworthy. Be sure to choose a conveyancer on the list of solicitors acceptable to your lender.