We're in Friern Barnet, FTBs buying with a mortgage (lender is Nationwide , and our lawyer is on the Nationwide conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when purchasing a house in Friern Barnet?
Unless a prior purchase of the house completed after 12 October 2013 you could take it that conveyancing practitioners handling conveyancing in Friern Barnet to remain encouraging a chancel search and or insurance against a claim.
I used Action Conveyancing a few years ago for my conveyancing in Friern Barnet. I now require my papers but the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate 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 Friern Barnet 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.
How does conveyancing in Friern Barnet differ for newly converted properties?
Most buyers of new build residence in Friern Barnet approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is finished. This is because house builders in Friern Barnet usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Friern Barnet or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a property in Friern Barnet before retaining conveyancers. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some lenders may refuse to give a loan on this type of property.
It depends who your proposed lender is. HSBC has different requirements from Halifax. If you call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Friern Barnet. Conveyancing may be slightly more expensive based on your lender's requirements.
I am a negotiator for a long established estate agent office in Friern Barnet where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Friern Barnet conveyancing solicitors. Could you confirm whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the leaseholder of a ground-floor 1950’s flat in Friern Barnet. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a Friern Barnet conveyancing firm who can help.
An example of a Lease Extension decision for a Friern Barnet flat is 90 & 96 Poplar Grove in June 2013. It was held by the Tribunal that the premium to be paid for the new lease in respect of each of the flats referred should be £17,942 This case was in relation to 2 flats. The unexpired term was 68 years.