My Solicitor in Tottenham Hale is not listed on the Yorkshire Building Society Solicitor Panel. Can I still retain my family solicitor even though they are excluded from the Yorkshire Building Society panel?
Your options are as follows:
- Complete the purchase with your existing Tottenham Hale solicitors but Yorkshire Building Society will need to use a lawyer on their panel. This will result in additional overall conveyancing charges as well as result in delays.
- Find an alternative lawyer to act in the purchase, remembering to check they are on the Yorkshire Building Society panel
I have been told that property searches are the main reason for hinderance in Tottenham Hale conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Tottenham Hale.
Due to the advice of my in-laws I had a survey completed on a property in Tottenham Hale prior to appointing solicitors. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some lenders will refuse to issue a loan on this type of house.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. If you e-mail us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Tottenham Hale. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Tottenham Hale to see if the conveyancing costs will increase in light of this.
I am looking for a conveyancing practitioner in Tottenham Hale for my home move. Is there any facility to review a firm’s record with the profession’s regulator?
Anyone can read presented Solicitor Regulator Association (SRA) decisions stemming from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find records Pre 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The SRA may recorded call for training purposes.
I am tempted by the attractive purchase price for a two flats in Tottenham Hale both have about 50 years remaining on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Tottenham Hale is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. The majority of buyers and banks, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Tottenham Hale conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I inherited a first floor flat in Tottenham Hale. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?
Where there is a missing landlord or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to assess the sum to be paid.
An example of a Freehold Enfranchisement decision for a Tottenham Hale premises is 22 Wakefield Road in January 2012. Following a vesting order Clerkenwell and Shoreditch County Court under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993 on 9th May 2011 the Tribunal decided that the price that the Applicant for the freehold interest should pay is £17,400 This case affected 2 flats. The unexpired residue of the current lease was 74.13 years.
Can a conveyancer remove a name from the title of my property in Tottenham Hale ?
Subtracting or adding someone to the title of your home is relatively straightforward. You’ll need to appoint a conveyancer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a solicitor