Due to complete my purchase in North Finchley next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the bank. What risks does the bank expect the insurance to cover?

Any lawyer on acting for mortgage companies 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 Part 2 conditions. These requirements are not limited to conveyancing in North Finchley.

Can you explain why leasehold purchase conveyancing in North Finchley is more expensive?

In summary, leasehold conveyancing in North Finchley and North London usually warrants more hours of investigation compared to freehold transactions. This includes checking the lease terms, liaising with the landlord concerning the service of applicable notices, procuring current service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first granted.

A colleague advised me that if I am buying in North Finchley I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?

This is a search is occasionally included in the estimate for your North Finchley conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about North Finchley around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the North Finchley Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning North Finchley.

I am a negotiator for a busy estate agent office in North Finchley where we see a number of leasehold sales jeopardised as a result of short leases. I have received conflicting advice from local North Finchley conveyancing firms. Can you clarify whether the seller of a flat can commence the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.

After years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in North Finchley. Can we issue an application to the Residential Property Tribunal Service?

Most definitely. We are happy to put you in touch with a North Finchley conveyancing firm who can help.

An example of a Lease Extension decision for a North Finchley flat 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 affected 1 flat. The unexpired lease term was 76 years.

I'm selling a house in North Finchley. I can find my conveyancer's company on the CLC list, but I can't see my lawyer's name on the list. Should I be concerned?

Not every individual in the company must be listed by the regulator. As long there is someone qualified to 'oversee' the conveyancing, the actual day-to-day activity can be undertaken by unqualified staff.