Questions and Answers: Emersons Green leasehold conveyancing
Expecting to sign contracts shortly on a basement flat in Emersons Green. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Emersons Green should include some of the following:
- You should be sent a copy of the lease
I've found a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Emersons Green. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
The majority of houses in Emersons Green are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Emersons Green so you should seriously consider shopping around for a Emersons Green conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will appraise you on the various issues.
I own a leasehold flat in Emersons Green. Conveyancing and Britannia mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Emersons Green who acted for me is not around.Do I pay?
The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. You do not need to instruct a Emersons Green conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a two maisonettes in Emersons Green both have in the region of forty five years unexpired on the leases. Will this present a problem?
There are plenty of short leases in Emersons Green. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area
Do you have any top tips for leasehold conveyancing in Emersons Green with the intention of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Emersons Green can be avoided where you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers lawyers.
- If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Emersons Green state that internal structural changes or laying down wooden flooring require a licence from the Landlord consenting to such works. Should you dont have the consents to hand do not contact the landlord without contacting your conveyancer in the first instance.
Emersons Green Conveyancing for Leasehold Flats - Sample of Queries before buying
How is the lease structured?
Are any of leasehold owners in dispute over their service charge liability?
Be sure to discover if there is anything that is prohibited in the lease. For example it is fairly common in Emersons Green leases that pets are not allowed in certain buildings in Emersons Green. If you love the apartmentin Emersons Green however your cat is not allowed to move with you then you will be presented with a difficult decision.