Despite weeks of looking the Title Certificate and documents to our house are lost. The lawyers who handled the conveyancing in Selsdon 5 years ago are no longer around. What are my next steps?
You no longer need to hold title deeds to prove you are the owner of your registered land or property, given that the Land Registry have everything they need in a digital format.
I am looking for a ground for flat up to £305k and identified one round the corner in Selsdon I like with open areas and station nearby, however it's only got 61 years on the lease. I can't really find anything else in Selsdon for this price, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan 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 premises for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
In searching the internet for the term conveyancing in Selsdon it reveals numerous solicitorsin the vicinity. With so much choice what is the best way to find the right property lawyer for the sale of my house?
The preferential way of choosing the right conveyancer is through a trusted recommendation, so seek the guidance of colleagues and those you trust who have bought a property in Selsdon or the respected estate agent or mortgage broker. Costs for conveyancing in Selsdon differ, so it's a good idea to request at least four quotes from different conveyancers. Make sure that you clarify what costs in the quote includes.
Can you provide any top tips for leasehold conveyancing in Selsdon with the intention of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Selsdon can be bypassed where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information needed by the buyers’ lawyers. If you hold a share in a the freehold, you should make sure that you have the original share document. Arranging a re-issued share certificate is often a time consuming formality and slows down many a Selsdon conveyancing transaction. Where a duplicate share certificate is necessary, you should approach the company officers or managing agents (where relevant) for this as soon as possible. If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where a dispute is unresolved. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unresolved. A minority of Selsdon leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors. You may think that you are aware of the number of years remaining on your lease but you should double-check via your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Selsdon conveyancing firm to represent me?
if there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to determine the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Selsdon residence is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case related to 6 flats. The unexpired lease term was 78.32 years.
My conveyancers in Selsdon have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with the lender. Is it case that being on the mortgage company conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the mortgage company Conveyancing Panel Terms. It might be worth you contacting the bank directly.