We are purchasing a 3 bedroom semi in Totteridge. The intention is to carry out an extension to the side at the property.Will legal due diligence on the property involve investigations to ascertain if these works were previously refused?
Your solicitor will review the registered title as conveyancing in Totteridge will occasionally identify restrictions in the title deeds which prohibit certain works or need the consent of a 3rd party. Certain additions need local authority planning consent and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these things with a surveyor prior to committing yourself to a purchase.
Is it the case that all Totteridge CQS (Conveyancing Quality Scheme) solicitors are on the UBS conveyancing panel?
It is true that some lenders now utilise CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.
I recently had an offer accepted on an apartment in Totteridge. My financial adviser recommended their conveyancers. I paid an upfront payment of £175. A couple of days later, the lawyer called me sheepishly admitting that they were not on the Aldermore 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 Aldermore 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.
2 months have gone by following my purchase conveyancing in Totteridge took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. 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'm buying my first flat in Totteridge with a mortgage from Nationwide Building Society. The builders would not move on the amount so I negotiated five thousand pounds worth of extras instead. The sale representative told me not disclose to my solicitor about the side-deal as it will impact my mortgage with the bank. Is this normal?.
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.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one close by in Totteridge I like with open areas and railway links nearby, however it's only got 51 remaining years left on the lease. There is not much else in Totteridge for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan the shortness of the lease will be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
My uncle has suggested that I instruct his lawyers for conveyancing in Totteridge. Should I find my own solicitor?
There are no two ways about it the ideal way to find a conveyancing practitioner is to get guidance from friends or family who have used the conveyancer you're contemplating using.
I own a second floor flat in Totteridge. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
Where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to calculate the price.
An example of a Lease Extension case for a Totteridge residence is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The unexpired lease term was 76 years.
Are there frequently found problems that you encounter in leases for Totteridge properties?
Leasehold conveyancing in Totteridge is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain sections are missing. The following missing provisions could result in a defective lease:
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A duty to insure the building Repairing obligations to or maintain elements of the building
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Barnsley Building Society, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.