We were just about to sign contracts for a property in Barnet. We encountered a snag. The mortgage offer with Nationwide Building Society expires on 15/6/2026 but the owners are suggesting a completion date of 17/6/2026. Can one extend the loan offer?
The person best placed to address this question is your solicitors who should determine if he or she is corresponding with the mortgage broker, vendor’s conveyancers, selling agents or conceivably all parties given the history of your transaction to date.
As someone not used to conveyancing in Barnet what is the number one tip you can give me concerning the ownership transfer in Barnet
Not many law firms shout this from the rooftops but conveyancing in Barnet and elsewhere in North London is often a confrontational process. Put another way, when it comes to conveyancing there is plenty of opportunity for friction between you and other parties involved in the legal transfer of property. For example, the seller, selling agent and even potentially a mortgage company. Selecting a solicitor for your conveyancing in Barnet an important selection as your conveyancer is your adviser, and is the ONLY person in the process whose interest is to protect your legal interests and to protect you.
On occasion a third party with a vested interest will attempt to sway you that it is in your interests to do things their way. As an example, the property agent may claim to be helping by claiming that your conveyancer is dragging his heels. Or your mortgage broker may advise you to do something that is contrary to your solicitors advice. You should always trust your lawyer above all other parties in the home moving process.
I used Arc property Solicitors a few years ago for my conveyancing in Barnet. I now require my file but the law firm has closed. What do I do?
You should contact 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 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.
Hoping to buy a property located in Barnet and I am already nervous. I couldn't find anything specific about Barnet. Conveyancing will be needed in due course but do you know about the Barnet area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Barnet. In the meantime here are some basic statistics that we found
I need to retain a conveyancing solicitor for leasehold conveyancing in Barnet. I've land on a web site which seems to have the perfect offering If it is possible to get all this stuff done via web that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am looking at a couple of flats in Barnet both have in the region of forty five years remaining on the leases. Will this present a problem?
There is no doubt about it. A leasehold flat in Barnet is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. The majority of purchasers and lenders, leases with under 75 years become less and less attractive. On a more positive 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 premises 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 Barnet conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.
After months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Barnet. Can we issue an application to the Residential Property Tribunal Service?
if there is a absentee landlord or where there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the LVT to make a decision on the premium.
An example of a Lease Extension decision for a Barnet 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.