We are due to exchange on the purchase of a house in Todmorden but as a consequence of damage from the recent storms I have was able negotiate recompense from the current proprietors in the sum of £2k taking the form of a adjustment in the price. This was going to be addressed as part of a side agreement yet Nationwide will not permit this. Should they have been informed?
Your lawyer being on a Nationwide conveyancing panel is duty bound to disclose to Nationwide of any changes to the sale price. If you prohibit your lawyer to notify the price change to Nationwide then they would have to discontinue acting for you. In addition, Nationwide and you would have to appoint a new solicitor for your conveyancing in Todmorden.
Completed the sale of my flat in Todmorden last January yet the purchaser is e-mailing me to moan that her solicitor needs to hear from mine. What should have happened now that I have sold?
Following your house sale your lawyer should deliver the transfer documentation and all supplemental paperwork to the purchaser's solicitors. Depending on the transaction, your conveyancer must also confirm that the home loan has been redeemed to the purchasers conveyancers. There are no post completion requirements specific conveyancing in Todmorden.
3 months have gone by since my purchase conveyancing in Todmorden completed. I have checked the Land Registry website 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 asset 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.
I am looking for a leasehold apartment up to £245,000 and identified one close by in Todmorden I like with amenity areas and station in the vicinity, however it's only got 49 years unexpired on the lease. There is not much else in Todmorden in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage the remaining unexpired lease term will be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I am looking for a conveyancing practitioner in Todmorden for my house move. Is it possible to review a solicitor's record with the legal regulator?
You can see presented Solicitor Regulator Association (SRA) decisions resulting from investigations commenced on or after 1 January 2008. Go to Check a solicitor's record. For details Pre 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA could monitor telephone calls for training requirements.
I am employed by a reputable estate agency in Todmorden where we see a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Todmorden conveyancing solicitors. Could you shed some light as to whether the owner of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Todmorden Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing
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The best form of lease arrangement is a share of the freehold. In this scenario the tenants have being in charge if their destiny and notwithstanding that a managing agent is often employed where it is bigger than a house conversion, the managing agent retained by the leaseholders. The answer will be useful as a) areas could cause problems in the building as the common areas may start to deteriorate where repairs are not paid for b) if the leaseholders have an issue with the running of the building you will wish to know about it What is the length of the lease?