Experts for Leasehold Conveyancing in Addiscombe

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Addiscombe leasehold conveyancing Example Support Desk Enquiries

I am in need of some leasehold conveyancing in Addiscombe. Before I get started I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and most are in Addiscombe - 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 have just appointed agents to market my 2 bed flat in Addiscombe.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – what should I do?

It best that you pay the invoice 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. This will smooth the conveyancing process.

Back In 2004, I bought a leasehold flat in Addiscombe. Conveyancing and Barclays Direct mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Addiscombe who previously acted has now retired.What should I do?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Addiscombe conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, 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 maisonettes in Addiscombe which have approximately fifty years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Addiscombe. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area

Do you have any advice for leasehold conveyancing in Addiscombe from the point of view of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Addiscombe can be avoided if you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation needed by the purchasers’ representatives.
  • Many landlords or managing agents in Addiscombe charge for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Addiscombe.
  • Some Addiscombe leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as historic rather than ongoing.
  • If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share document. Obtaining a duplicate share certificate can be a lengthy process and frustrates many a Addiscombe home move. Where a new share certificate is required, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.

    • I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Addiscombe conveyancing firm to act on my behalf?

    You certainly can. We are happy to put you in touch with a Addiscombe conveyancing firm who can help.

    An example of a Freehold Enfranchisement matter before the tribunal for a Addiscombe flat is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case related to 4 flats. The remaining number of years on the lease was 98 years.

    Other Topics

    Lease Extensions in Addiscombe