I am in need of a property lawyer. Should I go for for an online conveyancer rather than a local East Barnet conveyancing solicitor?
Established third party relationships are another important factor to consider when appointing conveyancing lawyers. East Barnet law firms benefit from long term relationships with lenders and East Barnet, local authorities, valuers and other conveyancing firms meaning the whole process is going to be much more straightforward for you. Possessing years of intelligence of the local area is also a plus .
We were just about to exchange contracts for a ground floor flat in East Barnet. We have hit a snag. Our loan offer with Lloyds TSB Bank expires on 17/9/2025 but the vendors are suggesting a completion date of 19/9/2025. Can one extend the loan expiry date?
The person best placed to address this question is your solicitors who should calculate if he or she is better off negotiating with the bank, owner’s solicitors, estate agents or possibly all three given the circumstances your conveyancing to date.
In what way does my ID and proof of funds have anything to do with my conveyancing in East Barnet? Is this really necessary?
In order to comply with Money Laundering Regulations any East Barnet conveyancing firm will require proof of identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility account showing where you reside.
Under Money Laundering Regulations, conveyancers are obliged by law to validate not only the ID of conveyancing clients but also the origin of fund that they receive in respect of any matter. Refusal to disclose this may lead to your lawyer terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to notify the relevant authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
3 months have gone by following my purchase conveyancing in East Barnet concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build apartment in East Barnet. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in East Barnet
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are architect prepared. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I have been on the look out for a ground for flat up to £245,000 and found one round the corner in East Barnet I like with amenity areas and transport links in the vicinity, the downside is that it only has 49 remaining years left on the lease. There is not much else in East Barnet suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.