Examples of recent questions relating to leasehold conveyancing in Hilton
Having checked my lease I have discovered that there are only 62 years left on my lease in Hilton. I now want to extend my lease but my landlord is absent. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to find the landlord. For most situations a specialist may be useful to carry out a search and prepare an expert document to be used as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court covering Hilton.
I am hoping to sign contracts shortly on a studio apartment in Hilton. Conveyancing solicitors inform me that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Hilton should include some of the following:
- The total extent of the premises. This will be the property itself but may incorporate a loft or cellar if applicable.
My wife and I purchased a leasehold flat in Hilton. Conveyancing and National Westminster Bank mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Hilton who previously acted has long since retired.What should I do?
First make enquiries of HMLR to make sure that this person is indeed the new freeholder. It is not necessary to instruct a Hilton conveyancing firm to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a couple of apartments in Hilton both have in the region of 50 years left on the leases. Will this present a problem?
There are plenty of short leases in Hilton. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the value of the lease decreases and results in it becoming more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money 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 arena
Can you provide any top tips for leasehold conveyancing in Hilton with the aim of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Hilton can be bypassed if you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers.
- In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Hilton state that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Where you fail to have the approvals to hand do not contact the landlord without contacting your solicitor before hand.
Hilton Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing
If a Hilton lease has fewer than eighty years it will affect the salability of the apartment. Check with your lender that they are happy with the length of the lease. A short lease means that you will almost definitely require a lease extension sooner rather than later and it is worth discovering what this will be. For most Hiltonlease extensions you will need to own the premises for a couple of years before you are entitled to exercise a lease extension.
The best form of lease arrangement is where the freehold reversion is owned by the leaseholders. In this arrangement the tenants have control and although a managing agent is often retained if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves.
It would be sensible to discover as much as you can about the managing agents as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to daily issues such as the tidiness of the common parts. Enquire of prospective neighbours what they think of their management. On a final note, find out the dates that you are obliged pay the maintenance charge to the relevant party and precisely what you get for your money.