AssumingI was to purchase a straightforward homein Tottenham mortgage fee and have no survey and no local authority searches how much could I expect to to save on my conveyancing in Tottenham?
The sole reduction in fees you would achieve is the costs for searches. Your property lawyer still got to do everything else - money laundering, correspond with your vendors solicitor, stamp duty submission, register the property etc. You might save a bit for them not having to register a mortgage however it will not be meaningful.
I am the registered owner of a freehold property in Tottenham but still charged rent, why is this and what is this?
It is rare for properties in Tottenham and has limited impact for conveyancing in Tottenham but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I am purchasing a new build house in Tottenham benefiting from help to buy. The sellers refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not reveal to my solicitor about the extras as it may jeopardize my mortgage with the bank. Should I keep quiet?.
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 ground for flat up to £245,000 and found one near me in Tottenham I like with amenity areas and station in the vicinity, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Tottenham in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a home loan that many years will likely be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you may ask them to commence the lease extension formalities 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 solicitor regarding this matter.
In what way can the Landlord & Tenant Act 1954 affect my commercial offices in Tottenham and how can you help?
The particular law that you refer to provides security of tenure to commercial tenants, granting the dueness to make a request to court for a renewal lease and continue in occupation when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Tottenham is one of the numerous locations in which our lawyers are located
Planning to sign contracts shortly on a ground floor flat in Tottenham. Conveyancing lawyers assured me that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Tottenham should include some of the following:
Repair and maintenance of the flat Who has the liability for maintaining the window frames The landlord’s rights to access the property. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. How long the lease is. You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
My wife and I have hit a brick wall in negotiating a lease extension in Tottenham. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We can put you in touch with a Tottenham conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Tottenham premises 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 was in relation to 2 flats. The unexpired term was 83.33 and 77.3.