Experts for Leasehold Conveyancing in Aldersbrook

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Examples of recent questions relating to leasehold conveyancing in Aldersbrook

Estate agents have just been given the go-ahead to market my basement apartment in Aldersbrook.Conveyancing has not commenced but I have just received a half-yearly service charge demand – what should I do?

It best that you clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

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 all the more appealing. I have since found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Aldersbrook. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Aldersbrook ?

The majority of houses in Aldersbrook are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Aldersbrook so you should seriously consider shopping around for a Aldersbrook conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer should appraise you on the various issues.

Back In 2006, I bought a leasehold flat in Aldersbrook. Conveyancing and TSB mortgage organised. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Aldersbrook who previously acted has long since retired.Any advice?

First make enquiries of HMLR to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Aldersbrook conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two flats in Aldersbrook which have approximately 50 years left on the lease term. Will this present a problem?

A lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the saleability of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

Can you provide any advice for leasehold conveyancing in Aldersbrook from the perspective of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Aldersbrook can be reduced where you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation needed by the buyers lawyers.
  • Many freeholders or Management Companies in Aldersbrook levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Aldersbrook.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Aldersbrook leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord acquiescing to such alterations. If you fail to have the approvals in place do not contact the landlord without contacting your lawyer before hand.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be warry about purchasing a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve 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 particulars of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unresolved.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Obtaining a replacement share certificate can be a lengthy formality and delays many a Aldersbrook conveyancing deal. Where a duplicate share certificate is necessary, do contact the company officers or managing agents (if relevant) for this sooner rather than later.

    • I have had difficulty in trying to purchase the freehold in Aldersbrook. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    in cases where there is a absentee landlord or where there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the LVT to calculate the price.

    An example of a Freehold Enfranchisement case for a Aldersbrook residence is 9 Granville Road in June 2014. The tribunal determines the enfranchisement price payable by the applicants for the freehold was £32,548 This case affected 5 flats. The the unexpired residue of the current lease was 73.8 years.

    Other Topics

    Lease Extensions in Aldersbrook