East London leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in East London. Before diving in I want to be sure as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in East London - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Planning to exchange soon on a studio apartment in East London. Conveyancing solicitors inform me that they are sending me a report on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in East London should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
I own a leasehold house in East London. Conveyancing and Chelsea Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in East London who previously acted has long since retired.Do I pay?
First contact HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a East London conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you offer any advice when it comes to appointing a East London conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a East London conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non East London conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- How experienced is the firm with lease extension legislation?
Do you have any advice for leasehold conveyancing in East London from the point of view of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in East London can be avoided if you get in touch lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the purchasers’ solicitors.
- The majority landlords or managing agents in East London levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have 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 delay in leasehold conveyancing in East London.
Notwithstanding our best endeavours, we have been unsuccessful in trying to purchase the freehold in East London. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a East London conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a East London property is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case related to 1 flat. The unexpired lease term was 73.26 years.