I was referred a lawyer who has quoted £1700 for fixed fee conveyancing in Totteridge. I am selling a Victorian property for £150,000. This appears too much. Is it in excess of what I should be paying for conveyancing in Totteridge?
The quote is slightly on the steep side. Where you are happy to expend time comparing prices you could get the conveyancing a bit cheaper by as much as £100 plus VAT. On the other hand, you couldlive to rue opting for an an untested solicitor. Don't forget to enquire that the conveyancer can act for your mortgage company. Do use our comparison tool to get a quote a Totteridge conveyancing firm on the lender’s approved list of lawyers which can often include conveyancing solicitors in Totteridge.
My Conveyancer in Totteridge is not on the Nationwide Building Society Conveyancing Panel. Can I still retain my prefered solicitor notwithstanding that they are excluded from the Nationwide Building Society panel?
The limited options available to you here include:
- Carry on with your preferred Totteridge lawyers but Nationwide Building Society will need to retain a solicitor on their panel. This will inevitably rack up the overall conveyancing charges as well as result in frustration.
- Find an alternative solicitor to act in the conveyancing, remembering to check they are on the Nationwide Building Society panel
Is it necessary to take out insurance to address the risk of chancel repairs when purchasing a property in Totteridge?
Unless a prior purchase of the house completed after 12 October 2013 you can take it that solicitors conducting conveyancing in Totteridge to continue to advocate a chancel search and or chancel repair liability insurance.
I am looking for a ground for flat up to £305k and identified one close by in Totteridge I like with a park and transport links nearby, however it's only got 51 years unexpired on the lease. I can't really find anything else in Totteridge suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will likely be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
I'm remortgaging my primary house to a buy to let loan with Virgin Money and intend to use the remaining equity towards another property. The location we are talking about is Totteridge. Will your conveyancers be able to act for the two lenders and link together the conveyances?
Do use our comparison tool on this site to check that the solicitors are approved by both banks. Having checked that they are your conveyancer should be able to simultaneously deal with the two transactions but you should have a chat with you solicitor and communicate your expectations and needs.
Last December I purchased a leasehold flat in Totteridge. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the proprietor of a ground-floor 1950’s flat in Totteridge. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a Totteridge conveyancing firm who can help.
An example of a Lease Extension decision for a Totteridge residence is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The unexpired term was 76 years.