It is 10 years ago since I purchased my home in Friern Barnet. Conveyancing solicitors have recently been instructed on the sale but I am unable to track down my deeds. Will this jeopardise the sale?
Don’t worry too much. Firstly there is a chance that the deeds will be kept by the mortgage company or they may be in the possession of the lawyers who acted in your purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring up to date copy of the land registers. Almost all conveyancing in Friern Barnet involves registered property but in the rare situation where your property is unregistered it is more tricky but is not insurmountable.
What happens if my lawyer’s firm is expelled from the Co-operative Conveyancing panel ahead of completing my conveyancing in Friern Barnet?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Friern Barnet?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Friern Barnet. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
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 housebuilder to exchange contracts and commit to the purchase even before the premises is built. This is because new home sellers in Friern Barnet tend to 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 property lawyers 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.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Friern Barnet. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
The majority of houses in Friern Barnet are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can help the conveyancing process. We note that you are purchasing in Friern Barnet so you should seriously consider looking for a Friern Barnet conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer will report to you on the legal implications.
I inherited a ground flat in Friern Barnet. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
Where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to determine the premium.
An example of a Lease Extension decision for a Friern Barnet property 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 related to 1 flat.
Being a tenant I am liable for a maintenance contribution for my first floor flat in Friern Barnet. Due to redundancy and personal issues I slipped behind with payments. The freeholders agreed a payment schedule but there is still approximately £3000 currently due.
I now wish to dispose of the property and I am panicking this may threaten to derail the sale if I have to settle the amount due now. I'd like to sell up and then discharge the arrears from the proceeds - is this achievable?
Your conveyancing practitioner should be in a position to negotiate with the appropriate parties, with a new to seeing if they would accept settlement out of the completion monies. This is an example of why it is advisable to use a property lawyer in Friern Barnet as they are likely to enjoy a strong line of communication with the parties.