Can you explain why leasehold purchase conveyancing in Tokyngton costs more?
Tokyngton 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.
We're in Tokyngton, FTBs purchasing with a mortgage (lender is Clydesdale , and our solicitor is on the Clydesdale conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Clydesdale conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My wife and I are selling our property in Tokyngton and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. Any high street Tokyngton conveyancer would know this is not the case. For the life of me I don't know why the purchasers instructed a national conveyancing outfit as opposed to a conveyancing solicitor in Tokyngton. We have lived in Tokyngton for 4 years we know of no issue. Do we get in touch with our local Authority to get clarification that the buyers are looking for.
It would appear that you have a conveyancing firm already. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
2 months have elapsed since my purchase conveyancing in Tokyngton completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. 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.
Do I need to be concerned about estate agents that I am dealing with are recommending a nationwide conveyancing firm as opposed to a High Street Tokyngton conveyancing firm?
As with lots of professional services, often suggestions from family and friends can be most helpful. Nevertheless there are lots of players in a conveyancing deal; estate agents, financial adviser and banks might all suggest solicitors to instruct. On occasion the solicitors might be known to one of the organisations as experts in their field, but occasionally there is an underlying financial incentive behind the endorsement. You have the discretion to select your own conveyancer. Don't forget that some banks operate an approved list of law firms you must use for the lender aspect of your conveyancing.
My wife and I purchased a leasehold flat in Tokyngton. Conveyancing and Alliance & Leicester mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Tokyngton who previously acted has long since retired. Any advice?
The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Tokyngton conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a ground-floor 1950’s flat in Tokyngton. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
in cases where 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 it is possible to make an application to the Leasehold Valuation Tribunal to decide the price payable.
An example of a Lease Extension decision for a Tokyngton flat is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case was in relation to 1 flat. The unexpired term as at the valuation date was 74 years.