Despite weeks of looking the Title Certificate and documents to our home can not be found. The conveyancers who dealt with the conveyancing in Mortimer 10 years ago no longer exist. What are my next steps?
You no longer need to hold title original deeds to evidence that you are the registered proprietor of land or property, given that the Land Registry hold details of all registered land or property electronically.
How does conveyancing in Mortimer differ for newly converted properties?
Most buyers of new build or newly converted property in Mortimer come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is finished. This is because developers in Mortimer tend to 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 accustomed to new build conveyancing in Mortimer or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one round the corner in Mortimer I like with amenity areas and station in the vicinity, however it's only got 61 years unexpired on the lease. I can't really find anything else in Mortimer suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage the shortness of the lease will likely be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
I am tempted by the attractive purchase price for a two flats in Mortimer both have about forty five years unexpired on the lease term. Will this present a problem?
A lease is a right to use the property for a period of time. As the lease shortens the marketability of the lease deteriorates and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this area.
Mortimer Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing
It is important to be aware if a new roof is being put on or some other significant cost is due shortly to be shared between the tenants and will materially impact the level of the maintenance charges or result in a one time invoice. How many of the leaseholders are in arrears for their maintenance charge payments? Most Mortimer leasehold flats will incur a service charge for the upkeep of the building set on behalf of the landlord. If you purchase the property you will have to pay this contribution, normally periodically accross the year. This can be anything from several hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a rentcharge to be met annual, this is usually not a large amount, say about £50-£100 but you should to check it because occasionally it could be many hundreds of pounds.
I happen to be an executor of my recently deceased aunt’s Will, with a house in Mortimer which is to be marketed. The bungalow is unregistered at the Land Registry and I'm told that many EAs will insist that it is done before they'll move forward. What's the mechanism for this?
In the circumstances that you have set out it seems advisable to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.