My IFA says he needs my Potters Bar lawyer’ panel reference for the Nationwide conveyancing panel. Can you suggest how I find this out. I have contacted my local Potters Bar office but they don't know it.
The sensible thing to do is ask for this information from your Potters Bar lawyer . They maintain a central record lender panel numbers.
Are the Potters Bar conveyancing solicitors identified as being on the Aldermore conveyancing panel, together with their details provided by Aldermore?
Potters Bar conveyancing firms themselves provide us confirmation that they are on the Aldermore conveyancing panel as opposed to being supplied with a list from Aldermore directly.
Will our conveyancer be raising enquiries regarding flooding as part of the conveyancing in Potters Bar.
Flooding is a growing risk for conveyancers dealing with homes in Potters Bar. Plenty of people will acquire a house in Potters Bar, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, but there are a number of checks that can be initiated by the purchaser or on a buyer’s behalf which will figure out the risks in Potters Bar. The standard property information forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual question of the vendor to find out whether the property has historically flooded. If flooding has previously occurred which is not disclosed by the vendor, then a purchaser may commence a legal claim for losses stemming from an misleading response. A buyer’s solicitors may also conduct an environmental search. This will higlight whether there is any known flood risk. If so, more detailed inquiries will need to be made.
The deeds to my property are lost. The solicitors who did the conveyancing in Potters Bar 5 years ago no longer exist. What do I do?
These day there are copies made of almost everything, and your conveyancer should be aware precisely where to look for all the appropriate paperwork so you can buy or sell your house without any difficulty. Where copies are not available, your solicitor can put in place insurance or indemnities protecting you against possible claims on the premises.
I work for a reputable estate agent office in Potters Bar where we have experienced a number of flat sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Potters Bar conveyancing firms. Can you clarify whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the proprietor of a two-bedroom flat in Potters Bar. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
Where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to calculate the price.
An example of a Lease Extension decision for a Potters Bar property 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 unexpired term was 76 years.
One month into buying a house in Potters Bar. Conveyancing lawyer has told us the title is "Leasehold". Will this likely impact our Halifax valuation?
Potters Bar conveyancing does not normally involve leasehold houses. The main factor here is the length of lease and the ground rent. If there are hundred of years years remaining with a nominal rent, it's essentially freehold, so it shouldn't impact the saleability too much.
At the other extreme, if it's, say, Sixty years it is bound to have a significant effect on the value, and most likely wouldn't be mortgageable. The remaining lease term and ground rent will be stated in the lease provided to your property lawyer.