My wife and I are due to complete on the purchase of a property in Crouch End but as a result of damage from a small fire at the property I have managed to agree recompense from the current proprietors in the sum of £3k by way of a adjustment in the price. This was going to be addressed as part of a side agreement yet Nottingham are not allowing this. Should they have been approached?
Your property lawyer that is on the Nottingham conveyancing panel is duty bound to inform Nottingham of any amendments to the purchase price. If you were to refuse your property lawyer to disclose the reduction to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new property lawyer for your conveyancing in Crouch End.
A colleague advised me that in buying a property in Crouch End there could be various restrictions as to what one can do in terms of external changes to a property. Is this right?
We are aware of a number of properties in Crouch End which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Crouch End should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have today made my last payment due on my mortgage with TSB. I assume I don't need a Crouch End property lawyer on the TSB panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your TSB mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the TSB mortgage from the register. TSB, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
I have a mortgage with TSB for my property in Crouch End. Conveyancing was finalised some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform TSB?
Your original mortgage agreement with TSB will provide that you need their approval prior to renting your property as this is likely to be a breach of TSB’s mortgage conditions. It may be that TSB will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact TSB directly. It should not be necessary to do this via a TSB conveyancing panel solicitor.
A colleague suggested that if I am purchasing in Crouch End I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually included in the estimate for your Crouch End conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Crouch End around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Crouch End Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information regarding Crouch End.
The deeds to my home are lost. The lawyers who conducted the conveyancing in Crouch End 5 years ago have long since closed. What are my next steps?
You no longer need to hold title official documentation to establish that you own the land or property, given that the Land Registry hold details of all registered land or property electronically.
I'm buying a new build house in Crouch End with the aid of help to buy. The developers refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not reveal to my lawyer about the deal as it may put at risk my loan with Halifax. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I own a leasehold flat in Crouch End. Conveyancing and Skipton Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Crouch End who acted for me is not around. Any advice?
First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Crouch End conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a basement flat in Crouch End. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
Most definitely. We can put you in touch with a Crouch End conveyancing firm who can help.
An example of a Lease Extension decision for a Crouch End property is Flat 2A 19 Shepherds Hill in June 2014. The tribunal concluded in accordance with section 48 and schedule 13 of the Leasehold Reform,Housing and Urban Development Act (the 1993 Act) that the premium payable in respect of the grant of a new lease for the Flat be £24,303 (twenty four thousand three hundred and three pounds) This case was in relation to 1 flat. The remaining number of years on the lease was 67.85 years.