My uncle passed away last year and as sole heir and executor I was left the property in Cockfosters. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Yorkshire BS, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then Yorkshire BS will insist on your using a conveyancer on the Yorkshire BS 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 Yorkshire BS 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 Yorkshire BS mortgage is registered as a charge at the Land Registry.
A colleague advised me that if I am purchasing in Cockfosters I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Cockfosters conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Cockfosters around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information concerning Cockfosters.
I am looking for a leasehold apartment up to £245,000 and identified one near me in Cockfosters I like with open areas and station in the vicinity, however it's only got 51 years unexpired on the lease. I can't really find anything else in Cockfosters suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan the remaining unexpired lease term will be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
I am looking into buying my first house which is in Cockfosters and I am already nervous. I couldn't find anything specific about Cockfosters. Conveyancing will be needed in due course but do you know about the Cockfosters area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Cockfosters. In the meantime here are some basic statistics that we found
My husband and I are new on the property ladder - agreed a price, but the agent told us that the owners will only issue a contract if we instruct the agent's preferred lawyers as they need a ‘quick sale’. We would rather use a high street solicitor accustomed to conveyancing in Cockfosters
It is improbable the vendors are behind this. If they require ‘a quick sale', taking such a hostile approach to a genuine purchaser is likely to cause more damage than good. Avoid the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you are going to appoint your own,trusted Cockfosters conveyancing firm - not the ones that will earn the estate agent a introducer fee or achieve conveyancing thresholds set by senior management.
What advice can you give us when it comes to appointing a Cockfosters conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Cockfosters conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Cockfosters conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be of use:
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What are the legal fees for lease extension conveyancing?
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Cockfosters conveyancing firm to help?
if there is a missing landlord or where 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 First-tier Tribunal (Property Chamber) to make a decision on the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Cockfosters premises is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case affected 2 flats. The remaining number of years on the lease was 70.31 years.
