All was ready to complete my purchase in Friern Barnet next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the bank. What does the insurance need to cover?

Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook conditions. These obligations are not specific to conveyancing in Friern Barnet.

My lender has suggested solicitors on their panel based in Friern Barnet but I would rather use a conveyancing lawyer in Friern Barnet or nearer to where I live. Are you able to assist?

The minority of Friern Barnet conveyancing solicitors are listed all lender’s conveyancing panel. Use the above search tool to locate a Friern Barnet conveyancing conveyancer on the on the mortgage company panel.

How does conveyancing in Friern Barnet differ for new build properties?

Most buyers of new build premises in Friern Barnet come to us having been asked by the developer to sign contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Friern Barnet usually buy the site, 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 conveyancing solicitors 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.

Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a quick, no chain conveyancing. Friern Barnet is the location of the property. Is there any advice you can impart?

Flying freeholds in Friern Barnet are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Friern Barnet you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Friern Barnet may ascertain 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 premises.

Last August I purchased a leasehold property in Friern Barnet. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I have had difficulty in negotiating a lease extension in Friern Barnet. Can this matter be resolved via the Leasehold Valuation Tribunal?

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 34 Poplar Grove in June 2013. The Tribunal directed that the premium for the lease extension should be in the sum of £10,250. This case was in relation to 1 flat.