We are getting closer to an exchange on a house in East Barnet and my mum and dad have transferred the exchange deposit to my solicitor. I am now advised that as the deposit has been sent from someone other than me my lawyer needs to disclose this to my lender. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I informed the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
The conveyancer is obliged to clarify with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
At what point does exchange of contracts happen for domestic conveyancing in East Barnet and am I required to attend the solicitors office?
Where you are near to one of the conveyancing solicitors in East Barnet you are invited in to sign contracts. However, the firms we recommend supply a countrywide conveyancing service and provide just as comprehensive and professional a job for you when dealing with you by post or email. The executing of the contract is not the point of no return. Signing on the dotted line is necessary for the conveyancer to exchange contracts when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in East Barnet)to be in the office at the appropriate time.
I have a renovated Edwardian house in East Barnet. Conveyancing practitioner acted for me and Halifax. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold under the exact same property. Is it worth asking Halifax 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 locations in 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 buyers. You can also check the situation with your conveyancing solicitor who conducted the purchase.
I am purchasing my first flat in East Barnet with a loan from HSBC Bank. The developers would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The estate agent told me not reveal to my lawyer about this deal as it would adversely affect my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I need to instruct a conveyancing practitioner in East Barnet for my house move. Is there any facility to review a solicitor's complaints history with the profession’s regulator?
You may see documented Solicitor Regulator Association (SRA) decisions resulting from investigations commenced on or after Jan 2008. Go to Check a solicitor's record. To find details Pre 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA may monitor telephone calls for training purposes.
My wife and I purchased a leasehold house in East Barnet. Conveyancing and Chelsea Building Society mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in East Barnet who previously acted has long since retired. Do I pay?
First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a East Barnet conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
We have reached the end of our tether in negotiating a lease extension in East Barnet. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the premium.
An example of a Freehold Enfranchisement decision for a East Barnet property is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case affected 2 flats. The unexpired term was 70.31 years.