Questions and Answers: Kingsland leasehold conveyancing
Having checked my lease I have discovered that there are only 68 years left on my flat in Kingsland. I now wish to extend my lease but my freeholder is missing. 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 for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to find the freeholder. For most situations a specialist would be useful to conduct investigations and to produce an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Kingsland.
Looking forward to complete next month on a garden flat in Kingsland. Conveyancing solicitors have said that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Kingsland should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
Estate agents have just been given the go-ahead to market my basement flat in Kingsland.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge demand – what should I do?
The sensible thing to do is discharge 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.
I am attracted to a two maisonettes in Kingsland which have approximately 50 years left on the leases. should I be concerned?
A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the value of the lease reduces and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area
Can you provide any advice for leasehold conveyancing in Kingsland from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Kingsland can be bypassed if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
- If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you laid down wooden flooring? Kingsland leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such works. If you fail to have the paperwork to hand you should not communicate with the landlord without checking with your solicitor in advance.
We have reached the end of our tether in trying to reach an agreement for a lease extension in Kingsland. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We can put you in touch with a Kingsland conveyancing firm who can help.
An example of a Lease Extension decision for a Kingsland residence is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case affected 1 flat. The unexpired lease term was 80.5 years.