We were just about to exchange contracts for a leasehold flat in Wembley Central. We encountered a problem. The loan offer with Halifax runs out on 16/5/2023 but the owners are insisting on a completion date of 18/5/2023. Is it possible to prolong the loan offer?
The person best placed to address this question is your solicitors who will determine whether he or she is better off negotiating with the bank, owner’s lawyers, selling agents or possibly all three taking into account the history of your house move as of today.
Why is leasehold purchase conveyancing in Wembley Central costs more?
The conveyancing fees for a leasehold premises in Wembley Central is inevitably greater as compared to a freehold acquisition or disposal. This is because there is an amount of extra time necessary in corresponding with the landlord and management company to obtain evidence concerning whether the rent and maintenance charges have been discharged and whether there are any significant expenditure in the near future on repairs or maintenance of the block.
My aunt passed away 10 months ago and as sole heir and executor I was left the house in Wembley Central. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this allowed?
If you intend to refinance then RBS will insist on your using a conveyancer on the RBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS mortgage is registered as a charge at the Land Registry.
I used Wolstenholmes a few years past for my conveyancing in Wembley Central. I now require my file however the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Wembley Central of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a ground for flat up to £195,000 and found one near me in Wembley Central I like with open areas and station nearby, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Wembley Central suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage the remaining unexpired lease term will likely be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
Having had my offer accepted I require leasehold conveyancing in Wembley Central. Before diving in I require certainty as to the remaining lease term.
If the lease is registered - and almost all are in Wembley Central - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the proprietor of a second floor flat in Wembley Central. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
You certainly can. We are happy to put you in touch with a Wembley Central conveyancing firm who can help.
An example of a Lease Extension case for a Wembley Central 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 affected 1 flat. The unexpired term as at the valuation date was 74 years.