My New Barnet lawyer has uncovered a difference between the information in the valuation survey and what is revealed within the conveyancing documents. My solicitor says that he must check that the lender is with this discrepancy and is still content to lend. Is my conveyancer’s course or action appropriate?
Your must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
We are downsizing from our house in New Barnet and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. A high street New Barnet conveyancer would know that there is no such problem. It does beg the question why the buyers are using an internet conveyancing firm as opposed to a conveyancing solicitor in New Barnet. Having lived in New Barnet for many years we know of no issue. Do we get in touch with our local Authority to obtain clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Are there restrictive covenants that are commonly identified as part of conveyancing in New Barnet?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in New Barnet. 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…’
I have been on the look out for a flat up to £245,000 and found one near me in New Barnet I like with amenity areas and station in the vicinity, the downside is that it only has 51 years on the lease. There is not much else in New Barnet in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage the shortness of the lease may be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
We're new on the property ladder - had an offer accepted, but the agent has warned us that the seller will only proceed if we appoint the agent's recommended lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a high street conveyancer who is familiar with conveyancing in New Barnet
It is highly unlikely the vendors are driving this. If they desire ‘a quick sale', turning down a motivated purchaser is is going to put the whole deal at risk. Try to communicate with the sellers directly and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you will continue to use your preferred New Barnet conveyancing firm - rather thanthose that will earn their negotiator at the agency a introducer fee or achieve conveyancing figures demanded by head office.