My New Barnet lawyer has identified an inconsistency when comparing the assumptions in the home valuation survey and what is revealed within the conveyancing documents. My lawyer informs me that he is duty bound to check that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s course or action right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
This question may be naive but I am wet behind the ears as FTB of a two bedroom flat in New Barnet. Do I pick up the keys to the property on completion from my lawyer? If so, I will use a High Street conveyancing solicitor in New Barnet?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the owner’s lawyers, and once they have received this, you will be called to pick up the keys from the property Agents and move into your new home. Usually this happens between 1 and 3pm.
The formalities of my remortgage has taken place for my property in New Barnet. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my New Barnet bank branch on a couple of occasions and was told they are content with the situation and they will lend. My New Barnet conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend in accordance with their specific requirements. Who do I believe?
The property lawyer has to comply with the Council of Mortgage Lenders’ Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Have purchased a a semi-detached house in New Barnet , What is the estimated time for the Land Registry to record the transfer to my name? My New Barnet conveyancing solicitor has been very slow, so I want to check that my purchase is recorded.
There is nothing unique when it comes to conveyancing in New Barnet registration formalities. As opposed to being determined by geographic area, timescales can adjust depending on who lodges the application, whether there are errors and if the Land registry communicate with any 3rd persons or bodies. Currently approximately three quarters of submission are fully dealt with within 12 days but occasionally there can be extensive delays. Registration takes place after the purchaser is living at the property so post completion formalities is not typically an essential issue but where there is a degree of urgency associated with the registration then you or your conveyancer can communicate with the Registry to express the reasoning for the application to be prioritised.
I am purchasing my first flat in New Barnet benefiting from help to buy. The developers would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not inform my conveyancer about the deal as it would jeopardize my loan with the lender. Should I keep quiet?.
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 decided to have a survey carried out on a property in New Barnet before instructing conveyancers. I have been advised that there is a flying freehold element to the house. The surveyor has said that some banks tend not issue a mortgage on such a premises.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. If you call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in New Barnet. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in New Barnet to see if the conveyancing costs will increase in light of this.
My father has recommend that I appoint his conveyancers in New Barnet. Should I find my own conveyancer?
There are no two ways about it it’s preferable to choose a conveyancing solicitor is to seek feedback from friends or family who have actually previously instructed the firm that you are contemplating using.