Frequently asked questions relating to Dockland Settlement leasehold conveyancing
Planning to sign contracts shortly on a studio apartment in Dockland Settlement. Conveyancing solicitors have said that they report fully on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Dockland Settlement should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
Estate agents have just been given the go-ahead to market my basement apartment in Dockland Settlement.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is pay 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 management companies will not acknowledge the buyer unless 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 own a leasehold flat in Dockland Settlement. Conveyancing and Barclays mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Dockland Settlement who previously acted has long since retired.Any advice?
First contact the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to instruct a Dockland Settlement conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Do you have any advice for leasehold conveyancing in Dockland Settlement from the perspective of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Dockland Settlement can be bypassed if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
- The majority landlords or Management Companies in Dockland Settlement levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Dockland Settlement.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Dockland Settlement conveyancing firm to act on my behalf?
Absolutely. We can put you in touch with a Dockland Settlement conveyancing firm who can help.
An example of a Lease Extension case for a Dockland Settlement residence is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case related to 2 flats. The unexpired lease term was 72 years.
What are the common defects that you see in leases for Dockland Settlement properties?
There is nothing unique about leasehold conveyancing in Dockland Settlement. All leases are unique and drafting errors can result in certain provisions are missing. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Leeds Building Society, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.