My wife and I are getting closer to an exchange on a house in Potters Bar and my mum and dad have sent the exchange deposit to my property lawyer. I am now informed that as the deposit has been sent from someone other than me my conveyancer needs to disclose this to my mortgage company. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the bank concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your solicitor is duty bound to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Please explain the implications if my lawyer’s firm is removed from the HSBC Conveyancing panel ahead of completing my conveyancing in Potters Bar?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I am helping my niece sell her house in Potters Bar. Will the solicitor commission the energy assessment or it is for the seller to see to?
After the demise of HIPs, energy performance certificates was kept a compulsory component of moving property. An energy performance certificate must be commissioned in advance of the property being placed on the market. It is not as aspect of the sale process that lawyers normally organise. If you are instructing a Potters Bar conveyancing practitioner they may be able to arrange energy assessments due to their relationships with long established local energy assessors
We have a mortgage agreed in principle with Clydesdale. Potters Bar conveyancing practitioners were instructed. How long does it take for Clydesdale to send the offer to the conveyancing practitioner?
There is no definitive answer here. Have Clydesdale done the valuation? Have you advised Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am buying a property in Potters Bar. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Aldermore be concerned?
Given that you are obtaining a mortgage with Aldermore your lawyer must comply with the formal requirements set out in Part 2 of UK Finance Lenders’ Handbook for Aldermore. The Council of Mortgage Lenders’ Handbook sets out minimum requirements for solar panel roof-space leases, and property lawyers are required to report to Aldermore where a lease does not satisfy these specifications. The requirements relate to the installation of panels on properties countrywide and is not restricted to Potters Bar.
Are there restrictive covenants that are commonly identified as part of conveyancing in Potters Bar?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Potters Bar. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
My fiance and I may need to sub-let our Potters Bar ground floor flat temporarily due to a new job. We instructed a Potters Bar conveyancing practice in 2002 but they have since shut and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?
Even though your last Potters Bar conveyancing lawyer is no longer around you can review your lease to see if it allows you to sublet the premises. The rule is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you must obtain consent via your landlord or other appropriate person in advance of subletting. This means you not allowed to sublet without prior consent. The consent must not not be unreasonably withheld. If the lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
I have had difficulty in seeking a lease extension in Potters Bar. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a Potters Bar conveyancing firm who can help.
An example of a Lease Extension case for a Potters Bar flat is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The number of years remaining on the existing lease(s) was 76 years.
Our solicitor in Potters Bar has requested from me identification documents stating that this forms part of his requirements as a solicitor on the bank Solicitor panel. Am I being spun a yarn?
Anti-terror and anti-money-laundering rules require Potters Bar conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that the mortgage company also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the lender's UK Finance Lenders’ Handbook requirements