Why would I appoint a Friern Barnet conveyancing solicitors firm when internet based alternatives are less overpriced?
Its a good idea to shop around for conveyancing costs in Friern Barnet and you should seek a reasonable estimate but don’t be focused with searching for the lowest priced Friern Barnet conveyancer. Locating the right conveyancer can be the distinction between a seamless and a stressful move. It is important that you ensure that you have expert advice from an experienced solicitor. Emails can't take the place of a telephone discussion and can never replicate a one to one consultation. Our partner firms will find you a qualified and experienced conveyancing solicitor that will deal with your conveyancing from beginning to end, providing a level of continuity that you are unlikely to received from an web based conveyancer. Our lawyers will contact you regularly to update you as to progress making sure that you are never in the dark. If you ever need to phone the office you will be sure who you need to speak to and we'll endeavour to make sure that you're not left wondering what's going on.
I own a freehold residence in Friern Barnet yet charged rent, why is this and what is this?
It is rare for properties in Friern Barnet and has limited impact for conveyancing in Friern Barnet but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
My father informed me that in buying a property in Friern Barnet there may be a number of restrictions prohibiting external alterations to the property. Is this right?
There are a number of properties in Friern Barnet which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Friern Barnet should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am being told by my solicitor that restrictive coveneant insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Friern Barnet?
The appropriate level of restrictive coveneant indemnity insurance depends on who your lender is. It would differ for example between Barclays and Virgin Money. Conveyancing practitioners as opposed to borrowers take out such policies.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Friern Barnet solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Friern Barnet surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
How does conveyancing in Friern Barnet differ for new build properties?
Most buyers of new build or newly converted property in Friern Barnet come to us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Friern Barnet typically acquire the land, 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 accustomed to new build conveyancing in Friern Barnet or who has acted in the same development.
What does commercial conveyancing in Friern Barnet cover?
Friern Barnet conveyancing for business premises covers a wide array of guidance, offered by qualified solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
My step-son is embarking on her first house purchase, he had his mortgage in principle. After the seller agreed the offer on the flat we contacted the lender to move forward with his. We were shocked to hear that mortgage companies do not accept all conveyancing practitioner, they need to be on their approved list, is this correct?
Banks ordinarily restrict either the type or the number of conveyancing solicitors on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Friern Barnet conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.