Why is leasehold purchase conveyancing in Harrow on the Hill costs more?
In short, leasehold conveyancing in Harrow on the Hill and elsewhere usually requires more hours of investigation compared to freehold transactions. This includes reviewing the lease, communicating with the landlord concerning serving appropriate notices, obtaining current service charge and management information, procuring the landlord’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 leaseholders have owned the lease since it was first granted.
When it comes to mortgage companies such as Nottingham, do Harrow on the Hill conveyancing practitioners incur a fee to be on the conveyancing panel?
We are unaware of any lender fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I've digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Harrow on the Hill solicitor - who is on the TSB conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Harrow on the Hill postcode. As you are getting a mortgage with TSB, you could contact them to see if they have a list of approved surveyors in Harrow on the Hill.
My sealed bid on a property in Harrow on the Hill has been accepted, the vendors do however have an associated purchase. The vendors have offered on somewhere, however it’s not yet tied up, and are looking at other flats booked. I have selected a nearby conveyancing solicitor in Harrow on the Hill. What do I do now? At what point should I apply for the mortgage with TSB?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of £1k, then survey, Harrow on the Hill conveyancing search fees, etc). The first thing to do is check that your conveyancer is on the TSB conveyancing panel. Regarding the subsequent stages this very much dictated by the circumstances of your case, attraction to the property and on the state of the market. During a rising market many purchasers would apply for a home loan with TSB and pay for the valuation and only if it was satisfactory would they pay their conveyancer to proceed with the conveyancing in Harrow on the Hill.
The deeds to my home can not be found. The conveyancers who conducted the conveyancing in Harrow on the Hill 10 years ago no longer exist. What are my next steps?
As long as the title is registered the information relating to your ownership will be evidenced by HMLR under a Title Number. It is possible to conduct a search at the Land Registry, identify your property and order current copies of the property title for a small fee. Where the property is Leasehold then the Land Registry will in most cases hold a file duplicate of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
My company is wishing to lease a unit on the high street. Can you recommend solicitors offering fixed charges for commercial conveyancing in Harrow on the Hill for below 2k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Harrow on the Hill, including the sale and purchase of businesses as well as simply property. Whether you are looking to buy or sell a shop, pub, restaurant, office, retail unit or a complete business we will find you the right solicitor. Regarding the costs this will depend on the structure and nuances of the proposed transaction. Please provide us with your contact information or phone so as to enable us to supply you with a fixed commercial conveyancing calculation.
I work for a long established estate agent office in Harrow on the Hill where we see a few flat sales derailed due to short leases. I have received contradictory information from local Harrow on the Hill conveyancing solicitors. Can you clarify whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
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 can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is 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.
We have reached the end of our tether in trying to reach an agreement for a lease extension in Harrow on the Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Harrow on the Hill premises is flat 93b Welldon Crescent in May 2009. The Tribunals valuation for a 90-year lease extension of this fat was £13,171 This case related to 1 flat. The unexpired term was 75.25 years.