Epping leasehold conveyancing Example Support Desk Enquiries
Planning to complete next month on a ground floor flat in Epping. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Epping should include some of the following:
- You should receive a copy of the lease
I today plan to offer on a house that seems to meet my requirements, at a great price which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Epping. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Epping ?
The majority of houses in Epping are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Epping in which case you should be shopping around for a Epping conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should report to you on the legal implications.
I own a leasehold house in Epping. Conveyancing and The Mortgage Works mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Epping who previously acted has now retired.Any advice?
The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Epping conveyancing practitioner 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 legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am attracted to a couple of flats in Epping which have approximately fifty years left on the leases. Will this present a problem?
There are plenty of short leases in Epping. The lease is a right to use the premises for a period of time. As a lease gets shorter the marketability of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area
What are your top tips when it comes to appointing a Epping conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Epping conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Epping conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- If they are not ALEP accredited then what is the reason?
Epping Leasehold Conveyancing - A selection of Questions you should consider before Purchasing
It is important to be aware whether a new roof is being put on or some other significant cost is due in the near future to be shared amongst the leasehold owners and will dramatically impact the level of the maintenance fees or necessitate a one off invoice.
The answer will be helpful as a) areas may result in problems in the building as the common areas may begin to deteriorate where maintenance are not paid for b) if the leaseholders have a dispute with the running of the building you will need to have full disclosure
Does the lease have onerous restrictions?