Is there a reason why leasehold purchase conveyancing in Tottenham is more expensive?
Tottenham leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
My aunt passed away 10 months ago and as sole heir and executor I was left the property in Tottenham. The house had a relatively small loan left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Skipton, pay off the mortgage. Is this allowed?
Given you plan to refinance then Skipton will insist on your using a conveyancer on the Skipton 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 Skipton 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 Skipton mortgage is registered as a charge at the Land Registry.
I have todaybeen informed that Wolstenholmes have been shut down. They conducted my conveyancing in Tottenham for a purchase of a leasehold flat 10 months ago. How can I establish that the property is registered correctly in the name of the previous owner?
The easiest method to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Tottenham conveyancing specialists.
I have been on the look out for a leasehold apartment up to £235,500 and found one close by in Tottenham I like with amenity areas and station nearby, the downside is that it only has 52 years on the lease. I can't really find anything else in Tottenham for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage that many years may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
I am attracted to a couple of maisonettes in Tottenham which have approximately fifty years unexpired on the lease term. Will this present a problem?
There are plenty of short leases in Tottenham. The lease is a right to use the premises for a period of time. As a lease gets shorter the marketability of the lease reduces and it becomes more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Tottenham conveyancing firm to help?
Most certainly. We are happy to put you in touch with a Tottenham conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Tottenham property is 30 Strode Road in June 2013. Following a vesting order by Edmonton County Court on 20th February 2013 the Tribunal arrived at a valuation for enfranchisement of £10,256 for the premises (£4,074 for the Ground Floor Flat and £6182 for the First Floor Flat) and £100 for the appurtenant land. This case was in relation to 2 flats. The unexpired lease term was 83.33 and 77.3.
What is the difference between surveying and conveyancing in Tottenham?
Conveyancing - in Tottenham or anywhere in England and Wales - is the process of legally transferring legal title of property from one person to another. It involves the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are intending to buy and will help you discover the condition of the building and, if there are problems, give you leverage for reducing the price down or asking the seller to remedy the defects prior to you complete your move.