My wife and I are due to exchange on the purchase of a property in Fairlop but as a consequence of wreckage from the recent storms I have was able negotiate reparation from the owner in the sum of three thousand pounds taking the form of a adjustment in the price. I had intended this to be addressed as part of the conveyancing process yet UBS are not allowing this. Why were they notified?
The lawyer that is on a UBS conveyancing panel is obliged to advise UBS of any changes to the sale price. If you prohibit your conveyancer to notify the reduction to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new conveyancer for your conveyancing in Fairlop.
Why is leasehold purchase conveyancing in Fairlop is more expensive?
The conveyancing costs on a leasehold property in Fairlop is inevitably higher than on a freehold acquisition or disposal. This is due to the additional work required in liaising with the freeholder and management company to collate the evidence concerning whether the rent and maintenance charges have been cleared and whether there are any significant expenditure in the near future on repairs or maintenance of the building.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The solicitors who dealt with the conveyancing in Fairlop 5 years ago no longer exist. What do I do?
Assuming the title is registered the information relating to your ownership will be evidenced by HMLR with a Title Number. It is easy to execute a search at the Land Registry, find your house and get current copies of the property title for less than a fiver. If the title is Leasehold then the Land Registry will in most cases retain a file duplicate of the Registered Lease and again, a copy can be ordered for a small fee.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one close by in Fairlop I like with open areas and transport links nearby, however it only has 61 years on the lease. There is not much else in Fairlop in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the shortness of the lease will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and pass 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 lawyer concerning this.
Is it possible to change conveyancer as I need to retain one who is on the Lloyds TSB Bank conveyancing panel. I hired a family conveyancing solicitor in Fairlop round the corner but the firm is not accepted by Lloyds TSB Bank
It would be our pleasure to help you select a conveyancing solicitor in Fairlop on the Lloyds TSB Bank panel. Please note that the law firms that we work with do not pay us a referral fee if you instruct them and are under regulation of the Solicitors Regulation Authority who oversee all conveyancing solicitors in Fairlop. Using search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Fairlop.
Frank (my husband) and I may need to rent out our Fairlop ground floor flat temporarily due to a new job. We used a Fairlop conveyancing practice in 2004 but they have closed and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?
Your lease dictates relations between the freeholder and you the leaseholder; specifically, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Fairlop do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
I am the registered owner of a first floor flat in Fairlop. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
if there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to determine the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Fairlop flat is 104 Coventry Road in July 2014. The Tribunal determined that the lease extension permium should be £22,896.15 This case was in relation to 1 flat. The unexpired term as at the valuation date was 60.29 years.