My wife and I are looking to acquire a property in East Barnet and are in fact using a East Barnet conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Halifax have this morning contacted us to advise us that they have now hit a problem as our East Barnet solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own East Barnet solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Are the BSA intent on creating a search tool with a view to to identify firms on the Earl Shilton BS conveyancing panel for example in East Barnet?
We would not expect to be advised of any intention on the part of the BSA to promote such a search facility.
Should my solicitor be asking questions concerning flooding during the conveyancing in East Barnet.
The risk of flooding is if increasing concern for solicitors dealing with homes in East Barnet. Plenty of people will buy a house in East Barnet, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, however there are a number of checks that can be carried out by the purchaser or by their solicitors which can figure out the risks in East Barnet. The conventional set of property information forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the vendor to discover whether the premises has historically flooded. If the premises has been flooded in past which is not revealed by the owner, then a buyer may commence a claim for damages resulting from an misleading response. A buyer’s conveyancers should also carry out an environmental report. This will indicate if there is any known flood risk. If so, further investigations will need to be carried out.
Me and my brother own a terraced Georgian house in East Barnet. Conveyancing practitioner represented me and Bank of Scotland. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the exact same address. Is it worth asking Bank of Scotland to clarify?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in East Barnet and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with your conveyancing solicitor who conducted the purchase.
How does conveyancing in East Barnet differ for newly converted properties?
Most buyers of new build or newly converted property in East Barnet contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is completed. This is because house builders in East 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 conveyancing solicitors 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 accustomed to new build conveyancing in East Barnet or who has acted in the same development.
Given that I will soon spend over three hundred thousand on a house in East Barnet I would like to talk to a conveyancer concerning thehouse move ahead of instructing the firm. Can this be arranged?
This is something that we encourage - we would be pleased to talk to you we do not take any clients on without you first talking to the conveyancer due to be doing your property ownership legalities in East Barnet.There is no ‘factory style conveyancing’ - every client is an important person, not a file reference. The law firms that we put you in touch with believe that the fees you are quoted for residential conveyancing in East Barnet should be the figure that you end up paying.