Sample questions relating to Addington leasehold conveyancing
Back In 2003, I bought a leasehold house in Addington. Conveyancing and The Royal Bank of Scotland mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Addington who acted for me is not around.What should I do?
The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to instruct a Addington conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am tempted by the attractive purchase price for a two flats in Addington both have about fifty years unexpired on the lease term. Do I need to be concerned?
There are plenty of short leases in Addington. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena
I've recently bought a leasehold flat in Addington. Do I have any liability for service charges for periods before completion of my purchase?
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. Strange as it may seem, 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).
Do you have any top tips for leasehold conveyancing in Addington from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Addington can be bypassed if you instruct lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the purchasers’ lawyers.
- Many landlords or managing agents in Addington levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Addington.
- If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Addington leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord consenting to such works. Should you dont have the paperwork to hand do not contact the landlord without contacting your solicitor first.
- If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Organising a replacement share certificate can be a lengthy process and slows down many a Addington home move. Where a reissued share certificate is required, do contact the company officers or managing agents (where relevant) for this sooner rather than later.
- You may think that you are aware of the number of years remaining on your lease but you should verify this via your conveyancers. A purchaser's lawyer will not be happy to advise their client to where the lease term is less than 80 years. It is therefore essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.
We expect to complete the sale of our £ 275000 maisonette in Addington next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Addington?
Addington conveyancing on leasehold apartments usually involves administration charges invoiced by freeholders :
- Addressing conveyancing due diligence questions
- Where consent is required before sale in Addington
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Addington conveyancing firm to act on my behalf?
in cases where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to decide the sum to be paid.
An example of a Freehold Enfranchisement case for a Addington property is 26 Manor Road in July 2010. the Tribunal decided that price to be paid for the freehold was £12,420 This case affected 2 flats. The the number of years remaining on the existing lease(s) was 76.75 and 88.83.
Addington Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing
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Does the lease contain onerous restrictions?