Please help. My Barnet conveyancer is informing me me that she is duty bound toorder Barnet conveyancing searches asthe firm are on the Virgin Moneysolicitor panel. Do I not have any say here?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a mortgage with a mortgage company your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the CML Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Barnet conveyancing searches.
I purchased a freehold premises in Barnet yet charged rent, why is this and what is this?
It’s unusual for properties in Barnet and has limited impact for conveyancing in Barnet but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
What is the difference between a licensed conveyancer and conveyancing solicitor in Barnet
There are many registered licenced Conveyancers in Barnet and Solicitor partnerships in Barnet who provide Conveyancing services It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. The two can handle other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
Is it the case that all Barnet solicitor practices on the Barclays conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Barclays approved list of solicitors they would need to be regulated by the SRA. The majority of lenders do allow licenced conveyancers on their panel in which case such practice would be regulated by the Council of Licensed Conveyancers.
Skipton have agreed my mortgage in principle, my offer on a property in Barnet has been accepted, now what?
Your property agent will need to be advised as to your property lawyer's details (be sure the solicitors are on the lender’s approved list). Contact Skipton or your broker and finalise any outstanding documentation. Skipton will sellect a valuer who will get in contact with the estate agent or vendor to schedule an appointment. Once carried out (assuming no problems) it takes on average ten days for the mortgage offer to be issued. Skipton will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Barnet.
four months have elapsed since my purchase conveyancing in Barnet took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. 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 residence 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.
I have been on the look out for a leasehold apartment up to £245,000 and found one round the corner in Barnet I like with amenity areas and station nearby, the downside is that it only has 61 remaining years left on the lease. There is not much else in Barnet in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage the shortness of the lease will likely be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.