We are about to exchange contracts for a leasehold flat in Tottenham. We have hit a problem. The loan offer with Norwich and Peterborough Building Society expires on 15/12/2025 but the owners are putting forward a completion date of 17/12/2025. Can one extend the loan offer?
The best person to address this concern is your lawyer who will determine if they better off negotiating with the mortgage company, seller’s solicitors, selling agents or conceivably all three given the circumstances your conveyancing as of today.
Is there a reason why leasehold purchase conveyancing in Tottenham costs more?
In summary, leasehold conveyancing in Tottenham and North London usually requires more due diligence compared to freehold conveyancing. This includes checking the lease terms, communicating with the landlord concerning the service of applicable notices, procuring current service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first entered into.
Our lender has suggested solicitors on their panel based in Tottenham but I would rather use a conveyancing lawyer in Tottenham or nearer to where I live. Are you able to help?
Far from all Tottenham conveyancing practices are listed all banks conveyancing panel. Use our search tool to identify a Tottenham conveyancing firm on the on the lender panel.
I opted to have a survey done on a house in Tottenham prior to instructing lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some lenders may refuse to issue a mortgage on this type of property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Tottenham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Tottenham to see if the conveyancing costs will increase in light of this.
I am looking into buying my first house which is in Tottenham and I am already nervous. I couldn't find anything specific about Tottenham. Conveyancing will be needed in due course but do you know about the Tottenham area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Tottenham. In the meantime here are some basic statistics that we found
I am a negotiator for a reputable estate agency in Tottenham where we have experienced a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Tottenham conveyancing firms. Could you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I have given up trying to reach an agreement for a lease extension in Tottenham. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We can put you in touch with a Tottenham conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Tottenham residence is 30 Strode Road in June 2013. Following a vesting order by Edmonton County Court on 20th February 2013 the Tribunal arrived at a valuation for enfranchisement of £10,256 for the premises (£4,074 for the Ground Floor Flat and £6182 for the First Floor Flat) and £100 for the appurtenant land. This case related to 2 flats. The unexpired lease term was 83.33 and 77.3.