Common questions relating to Forest Row leasehold conveyancing
I am in need of some leasehold conveyancing in Forest Row. Before I get started I would like to find out the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Forest Row - then the leasehold title will always include the short particulars 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.
Estate agents have just been given the go-ahead to market my ground floor apartment in Forest Row.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
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.
Back In 2002, I bought a leasehold flat in Forest Row. Conveyancing and Britannia mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Forest Row who previously acted has now retired.Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Forest Row conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a two flats in Forest Row both have about forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Forest Row. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field
I've recently bought a leasehold property in Forest Row. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a ground floor flat in Forest Row, conveyancing was carried out 4 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Forest Row with an extended lease are worth £219,000. The ground rent is £50 yearly. The lease expires on 21st October 2097
With just 72 years remaining on your lease the likely cost is going to range between £11,400 and £13,200 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
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