It is a dozen years since I purchased my property in Tooting Bec. Conveyancing lawyers have just been instructed on the sale but I can't find the title deeds. Is this a major issue?
Don’t worry too much. Firstly the deeds may be with your lender or they may be in the possession of the conveyancers who handled your purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. Most conveyancing in Tooting Bec involves registered property but in the unlikely event that your home is not registered it is more of a problem but is not insurmountable.
My grandmother passed away six months ago and as sole heir and executor I was left the house in Tooting Bec. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this possible?
If you intend to re-mortgage then Virgin Money will insist on your using a conveyancer on the Virgin Money 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 Virgin Money 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 Virgin Money mortgage is registered as a charge at the Land Registry.
What will a local search reveal regarding the property we're buying in Tooting Bec?
Tooting Bec conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations such as PSG The local search plays an important part in many a Tooting Bec conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your property. The search should provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
How does conveyancing in Tooting Bec differ for newly converted properties?
Most buyers of new build property in Tooting Bec come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is constructed. This is because builders in Tooting Bec tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Tooting Bec or who has acted in the same development.
All being well we will complete the disposal of our £175,000 maisonette in Tooting Bec next Friday. The landlords agents has quoted £360 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Tooting Bec?
Tooting Bec conveyancing on leasehold apartments often involves the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be willing to assist. They may levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee invoiced by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that you have no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
My wife and I have hit a brick wall in seeking a lease extension in Tooting Bec. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a Tooting Bec conveyancing firm who can help.
An example of a Lease Extension decision for a Tooting Bec residence is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case related to 1 flat. The unexpired lease term was 62.94 years.