Examples of recent questions relating to leasehold conveyancing in Aldborough Hatch
I am in need of some leasehold conveyancing in Aldborough Hatch. Before diving in I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Aldborough Hatch - 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 hoping to sign contracts shortly on a studio apartment in Aldborough Hatch. Conveyancing lawyers assured me that they report fully next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Aldborough Hatch should include some of the following:
- You should be sent a copy of the lease
I today plan to offer on a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Aldborough Hatch. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Aldborough Hatch ?
Most houses in Aldborough Hatch are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Aldborough Hatch in which case you should be shopping around for a Aldborough Hatch conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your lawyer will appraise you on the various issues.
I've recently bought a leasehold house in Aldborough Hatch. Am I liable to pay service charges for periods before my ownership?
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 ensure 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).
Having spent years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Aldborough Hatch. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We can put you in touch with a Aldborough Hatch conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Aldborough Hatch property is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The remaining number of years on the lease was 61.36 years.
What makes a Aldborough Hatch lease unacceptable for security purposes?
Leasehold conveyancing in Aldborough Hatch is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the premises
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Chelsea Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.