I have just been advised by my broker that my Chipping Barnet lawyer is not on the bank Conveyancing panel. What can I do to be sure if this is correct?
You need to contact your Chipping Barnet lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your lender.
Our conveyancer has discovered a defect with the lease for the apartment we are buying in Chipping Barnet. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor has advised that he must ensure that the mortgage company is content with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your conveyancer 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 mortgage company 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 lawyer will have no choice but to discontinue acting for you.
My grandmother passed away 10 months ago and as sole heir and executor I was left the house in Chipping Barnet. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Nationwide, pay off the mortgage. Is this possible?
If you intend to refinance then Nationwide will insist on your using a conveyancer on the Nationwide conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nationwide conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nationwide mortgage is registered as a charge at the Land Registry.
Do commercial conveyancing searches reveal impending roadworks that could affect a commercial property in Chipping Barnet?
Many commercial conveyancing solicitors in Chipping Barnet will execute a SiteSolutions Highways report as it reduces the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Chipping Barnet. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Chipping Barnet.
For every commercial conveyancing transaction in Chipping Barnet it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can cause delays to Chipping Barnet commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Chipping Barnet.
How does conveyancing in Chipping Barnet differ for newly converted properties?
Most buyers of new build property in Chipping Barnet contact us having been asked by the builder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Chipping Barnet typically buy the site, 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 property lawyers 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 Chipping Barnet or who has acted in the same development.
Why do I have to provide my conveyancing practitioner with numerous items of ID ahead of starting selling or purchasing a property in Chipping Barnet?
Chipping Barnet lawyers are required by the Law Society, SRA, the Land Registry and current AML legislation to record that the have verified the identity of their clients. It is also sometimes a requirement of your mortgage offer. In addition they have to complete various forms, particularly those relating to Land Tax and need to have details such as your full names, national insurance number and DOB.