My uncle passed away last year and as sole heir and executor I was left the property in Shacklewell. 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 UBS, pay off the mortgage. Is this allowed?
Given you intend to re-mortgage then UBS will insist on your using a conveyancer on the UBS 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 UBS 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 UBS mortgage is registered as a charge at the Land Registry.
A colleague advised me that where I am buying in Shacklewell I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Shacklewell conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Shacklewell around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Shacklewell Education with plans and statistics, Local Amenities and other useful information about Shacklewell.
Are there restrictive covenants that are commonly picked up during conveyancing in Shacklewell?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Shacklewell. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Shacklewell differ for new build properties?
Most buyers of new build premises in Shacklewell contact us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is finished. This is because house builders in Shacklewell usually acquire the land, 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 Shacklewell or who has acted in the same development.
I am looking for a flat up to £305k and found one close by in Shacklewell I like with amenity areas and transport links nearby, however it's only got 51 years unexpired on the lease. I can't really find anything else in Shacklewell in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
I've recently bought a leasehold flat in Shacklewell. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Shacklewell conveyancing firm to assist?
in cases where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to calculate the price payable.
An example of a Lease Extension decision for a Shacklewell flat is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case affected 1 flat. The number of years remaining on the existing lease(s) was 80.5 years.