We were just about to exchange contracts for a ground floor flat in Tottenham Hale. We have hit a stumbling block. The loan offer with Skipton Building Society expires on 18/2/2025 but the sellers are insisting on a completion date of 20/2/2025. Can one prolong the loan expiry date?
The person best placed to address this concern is your solicitors who will assess if he or she is should be discussing with the mortgage broker, owner’s solicitors, estate agents or possibly all three given what has happend in your conveyancing as of today.
Is there a reason why leasehold purchase conveyancing in Tottenham Hale is more expensive?
Tottenham Hale 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.
I recently had an offer agreed on a house in Tottenham Hale. My financial adviser pressured me to appoint their conveyancer. I paid an on account payment of £200. A couple of days later, the property lawyer called me to say that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I was told three weeks ago that my mortgage has been agreed to by Lloyds. Is it usual for Lloyds to only issue the offer once my solicitor in Tottenham Hale is approved on their conveyancing panel? Lloyds have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
Nationwide have agreed my home loan in principle, my offer on a apartment in Tottenham Hale has been agreed to, now what?
The estate agent will wish to be informed of your property lawyer's details (ensure that the conveyancers are on the lender’s panel). Call up Nationwide or your financial adviser and complete any appropriate documentation. Nationwide will sellect a valuer who will get in touch with the selling agent or vendor to arrange an appointment. Once conducted (assuming no problems) it takes about ten days for the mortgage offer to be issued. Nationwide will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Tottenham Hale.
I am looking for a leasehold apartment up to £235,500 and identified one close by in Tottenham Hale I like with a park and station in the vicinity, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Tottenham Hale suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan that many years will be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
I have had difficulty in trying to reach an agreement for a lease extension in Tottenham Hale. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to calculate the price.
An example of a Freehold Enfranchisement case for a Tottenham Hale residence 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.
When it comes to leasehold conveyancing in Tottenham Hale what are the most frequent lease problems?
Leasehold conveyancing in Tottenham Hale is not unique. Most leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:
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A provision for the recovery of money spent for the benefit of another party. A provision to repair to or maintain parts of the building
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Barnsley Building Society, and Britannia all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.
I cannot travel my Tottenham Hale conveyancing practitioners office to sign documents connected to my conveyancing in Tottenham Hale – is this a problem?
You need not be concerned. Tottenham Hale conveyancing solicitors can conduct conveyancing transactions for clients throughout the rest of the country. You are unlikely to be required to attend a Tottenham Hale conveyancers office. They can deal with everything via post, email, telephone and fax.