Addington leasehold conveyancing Example Support Desk Enquiries
I am in need of some leasehold conveyancing in Addington. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in Addington - then the leasehold title will always include the basic details 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.
I am looking at a two maisonettes in Addington both have about forty five years remaining on the leases. should I be concerned?
A lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. 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 offer any advice when it comes to choosing a Addington conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Addington conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Addington conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How experienced is the practice with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Addington with the purpose of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Addington can be avoided where you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information which will be required by the purchasers’ representatives.
- Many freeholders or Management Companies in Addington levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Addington.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £275000 garden flat in Addington next week. The managing agents has quoted £360 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Addington?
Addington conveyancing on leasehold apartments normally involves the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be content to assist. They may charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The administration charge required by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded if you want to complete the sale of your home.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Addington conveyancing firm to act on my behalf?
You certainly can. We can put you in touch with a Addington conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Addington premises is 26 Manor Road in July 2010. the Tribunal decided that price to be paid for the freehold was £12,420 This case related to 2 flats. The the unexpired term as at the valuation date was 76.75 and 88.83.