We are acquiring a newly built flat in Chipping Barnet and my lawyer is advising me that she has to the mortgage company to reveal incentives from the builder. The Estate Agents are hassling me to sign contracts and my preference is not to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I purchased a freehold residence in Chipping Barnet yet charged rent, why is this and what is this?
It’s unusual for properties in Chipping Barnet and has limited impact for conveyancing in Chipping 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 date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
The Chipping Barnet conveyancing lawyers that just started acting on my house acquisition in Chipping Barnet have suddenly shut down. They were on acting for me because I had to have a solicitor on the Santander conveyancing panel and my family Chipping Barnet lawyer was not. I paid them 275 plus VAT on account. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Santander conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
three months have elapsed following my purchase conveyancing in Chipping Barnet took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. 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 asset 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.
How much experience do your Chipping Barnet conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Chipping Barnet conveyancing lawyers help thousands of buyers move home every year and helped plenty of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Chipping Barnet conveyancers have worked on recent similar matters.