Why is leasehold purchase conveyancing in Crofton Park costs more?
In short, leasehold conveyancing in Crofton Park and elsewhere usually warrants extra due diligence compared to freehold conveyancing. This includes reviewing the lease, communicating with the landlord concerning the service of appropriate notices, securing up-to-date 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 – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
My uncle passed away 10 months ago and as sole heir and executor I was left the house in Crofton Park. The house had a small mortgage left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to TSB, pay off the mortgage. Is this possible?
If you plan to re-mortgage then TSB will insist on your using a conveyancer on the TSB conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your TSB conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the TSB mortgage is registered as a charge at the Land Registry.
Do commercial conveyancing searches reveal proposed roadworks that may affect a commercial estate in Crofton Park?
Many commercial conveyancing solicitors in Crofton Park will order a SiteSolutions Highways report as it reduces the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Crofton Park. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Crofton Park.
For every commercial conveyancing transaction in Crofton Park it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Crofton Park commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Crofton Park.
It has been five months following my purchase conveyancing in Crofton Park took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
We're FTB’s - agreed a price, yet the selling agent informed us that the owners will only proceed if we use the agent's chosen lawyers as they want an ‘expedited deal’. We would rather use a high street solicitor who is familiar with conveyancing in Crofton Park
We suspect that the owner is not behind this request. Should the owner want ‘a quick sale', taking such a hostile approach to a motivated buyer is counter productive. Try to communicate with the owners directly and make the point that (a)you are serious buyers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you will continue to appoint your preferred Crofton Park conveyancing lawyers - as opposed tothose that will give the negotiator at the agency a introducer fee or achieve conveyancing targets pre-set by senior management.
I've recently bought a leasehold house in Crofton Park. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner 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 be sure 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 am the registered owner of a a ground floor purpose built flat in Crofton Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
Where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to decide the premium.
An example of a Lease Extension matter before the tribunal for a Crofton Park residence is Flat b 14 Kemble Road in May 2014. The Tribunal assessed the value of the premium payable for the lease extension to be £9,761 This case affected 1 flat.