Unfortunately I am unable to travel far from East Barnet. Is there a reason why all East Barnet solicitors aren't automatically on all bank panels?

Mortgage Companies ordinarily impose restrictions on either the nature or volume of conveyancing solicitors on their approved list of lawyers. A common example of such restriction(s) being that the organisation is required to have two or more partners. In addition to restricting the structure of firm, some lenders made a decision to limit the size of their panel they permit to represent them. It is worth noting that building societies have no liability for the standard of conveyancing provided by any East Barnet conveyancing practitioner on their approved list. Increases in mortgage fraud was the main trigger for the reduction of conveyancing panels in the last decade even though there are differing points of view concerning whether solicitors sat at the center of that fraud. Statistics from the Land Registry exposes that thousands of law firms only carry out less than three conveyances a year. Those advocating conveyancing panel pruning question why conveyancing firms should have any entitlement to be on a bank panel when it is evident that conveyancing is not their primary expertise?

We are selling our apartment in East Barnet. Does my solicitor need to be on the Co-operative conveyancing panel in order to deal with redeeming my mortgage?

Ordinarily, even if your lawyer is not on the Co-operative conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.

Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. East Barnet is the location of the property. What do you suggest?

Flying freeholds in East Barnet are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside East Barnet you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in East Barnet may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.

If all goes to plan we aim to complete the sale of our £200,000 garden flat in East Barnet next Thursday. The freeholder has quoted £348 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in East Barnet?

East Barnet conveyancing on leasehold apartments normally necessitates the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be content to assist. They may invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is in excess of £800. The management information fee demanded by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, otherwise the invoice is technically not due. In reality one has no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.

I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a East Barnet conveyancing firm to assist?

Most certainly. We can put you in touch with a East Barnet conveyancing firm who can help.

An example of a Freehold Enfranchisement case for a East Barnet residence is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The unexpired lease term was 70.31 years.

We are about to complete buying a property in East Barnet but as a result of wreckage from the recent storms I have agreed recompense from the current proprietors of four thousand pounds by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process however my lender will not permit this. Why were they informed?

The conveyancer being on a mortgage company approved list is obliged to advise the bank of any changes to the purchase amount. In the event that you prohibit your property lawyer to report the price change to your mortgage company then they would need to discontinue acting for you and the lender.