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Find a Monken Hadley Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Monken Hadley? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Monken Hadley transaction at risk of delay or failure.

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Recently asked questions about conveyancing in Monken Hadley

We have very pushy vendors who has suggested a exclusivity agreement with a down payment 6,000. Are such agreements promoted for Monken Hadley conveyancing transactions?

There are a couple of primary downsides with executing a lock out agreement (also known as a shut-out contract) is that it takes away the focus from making progress with the conveyancing work, so in the absence of it needing limited or no negotiation then it may transpire to be a hindrance. It is not strongly advocated amongst Monken Hadley conveyancing solicitors for this reason. A further negative is the extent of the remedies available - an aggrieved purchaser is not likely to obtain an injunction to bar the vendor disposing of the property to an alternative purchaser, so the only remedy available under the contract will be the reimbursement of wasted costs and, in limited scenarios, the extra payment of penalties.

My wife and I are purchasing a flat in Monken Hadley. I might seem paranoid but how we can trust a lawyer? At some point we have to put money into their account. What is the protection we have from them run away with our monies?

Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.

Can you point me to a directory of Aldermore panel conveyancers in Monken Hadley on the UK Finance Lenders’ Handbook Website?

Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lending institutions make their panel listings viewable online. Where you are looking for a Monken Hadley conveyancer on the Aldermore please use our facility.

We previously appointed solicitors with offices in Monken Hadley on the Nottingham solicitor panel. They have just invoiced me an additional charge for handling the Nottingham mortgage. Is this an additional conveyancing fee specified by Nottingham?

As unfair as it may seem, as long as it’s in their Terms and Conditions or Quote then yes your lawyer is entitled to levy a fee for this. This charge is not set by Nottingham but by your Monken Hadley solicitor. Some firms on the Nottingham panel will levy ’dealing with mortgage’ fee and others do not.

Will our solicitor be raising enquiries about flooding during the conveyancing in Monken Hadley.

The risk of flooding is if increasing concern for solicitors dealing with homes in Monken Hadley. There are those who acquire a house in Monken Hadley, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.

Solicitors are not best placed to impart advice on flood risk, but there are a various checks that may be carried out by the purchaser or on a buyer’s behalf which can give them a better appreciation of the risks in Monken Hadley. The conventional set of information given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard question of the seller to determine if the property has historically flooded. If the residence has been flooded in past which is not revealed by the owner, then a buyer may issue a claim for damages resulting from an incorrect reply. The buyer’s conveyancers may also order an enviro report. This will reveal if there is any known flood risk. If so, further inquiries should be initiated.

I used Action Conveyancing a few years past for my conveyancing in Monken Hadley. I now require my file but the law firm has closed. What do I do?

You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Monken Hadley of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.

I am attracted to a two apartments in Monken Hadley which have in the region of fifty years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Monken Hadley is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the property. The majority of purchasers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Monken Hadley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Following months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Monken Hadley. Can we issue an application to the Residential Property Tribunal Service?

if there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to judgment on the price payable.

An example of a Lease Extension case for a Monken Hadley premises 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 related to 1 flat. The unexpired residue of the current lease was 76 years.

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Neighbouring Locations

Monken Hadley
Hadley Wood
Arkley
Barnet
Temple Fortune
Totteridge
New Barnet

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