My wife and I purchased a 4 bedroom Victorian house in Tulse Hill. Conveyancing lawyer acted for me and . I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold with the matching address. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tulse Hill and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with your conveyancing solicitor who completed the work.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Tulse Hill is where the house is located. Can you offer any advice?
Flying freeholds in Tulse Hill are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Tulse Hill you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tulse Hill may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Do I need to be suspicious that 3rd parties that I am dealing with are recommending a national conveyancing firm as opposed to a local Tulse Hill conveyancing firm?
As with lots of professional services, often input from connections can be extremely useful or valuable. Yet there are numerous players in a conveyancing matter; estate agents, financial adviser and banks may suggest conveyancers to use. On occasion the lawyers might be known to one of the organisations as being good in their field, but occasionally there is an underlying commercial relationship behind the recommendation. You have the discretion to choose your own lawyer. You need to be aware that some lenders operate an approved list of law firms you are obliged to use for the lender aspect of your transaction.
Should I choose a Tulse Hill conveyancing solicitor who is local to the property I am purchasing? An old friend can execute the legal formalities however her office is a couple of hundredmiles away.
The benefit of a local Tulse Hill conveyancing firm is that you can drop in to execute paperwork, deliver your ID and pester them if necessary. Having local Tulse Hill know how is a bonus. However it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and on the whole were happy that must outweigh using an unfamiliar Tulse Hill conveyancing lawyer just because they are based in the area.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Tulse Hill. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
Most houses in Tulse Hill are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can assist with the conveyancing process. We note that you are buying in Tulse Hill so you should seriously consider looking for a Tulse Hill conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your solicitor will report to you on the legal implications.
I bought a split level flat in Tulse Hill, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Tulse Hill with over 90 years remaining are worth £165,000. The ground rent is £45 invoiced every year. The lease expires on 21st October 50
With 50 years remaining on your lease the likely cost is going to be between £36,100 and £41,800 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.