Recently asked questions relating to Barbican leasehold conveyancing
I am in need of some leasehold conveyancing in Barbican. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is registered - and most are in Barbican - 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.
There are only Fifty years remaining on my lease in Barbican. I need to extend my lease but my freeholder is missing. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you have done all that could be expected to track down the landlord. On the whole an enquiry agent should be useful to conduct investigations and to produce a report which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer both on proving the landlord’s absence and the vesting order request to the County Court overseeing Barbican.
My wife and I purchased a leasehold house in Barbican. Conveyancing and National Westminster Bank mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Barbican who acted for me is not around.Do I pay?
First contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Barbican conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a two flats in Barbican both have about forty five years left on the leases. Will this present a problem?
There are plenty of short leases in Barbican. The lease is a right to use the property for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena
If all goes to plan we aim to complete our sale of a £350000 flat in Barbican next Monday . The management company has quoted £348 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Barbican?
Barbican conveyancing on leasehold flats nine out of ten times results in fees being levied by management companies :
- Answering pre-contract enquiries
- Where consent is required before sale in Barbican
- Supplying insurance information
- 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 for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Barbican conveyancing firm to assist?
if there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to calculate the price payable.
An example of a Lease Extension case for a Barbican residence is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case affected 2 flats. The the number of years remaining on the existing lease(s) was 72.39 years.