Sample questions relating to Barnehurst leasehold conveyancing
I am in need of some leasehold conveyancing in Barnehurst. 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 Barnehurst - then the leasehold title will always include the short particulars 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’m about to sell my ground floor apartment in Barnehurst.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly maintenance charge demand – 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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am attracted to a couple of maisonettes in Barnehurst which have in the region of fifty years left on the leases. Will this present a problem?
There are no two ways about it. A leasehold apartment in Barnehurst is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the premises. For most buyers and lenders, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Barnehurst conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Can you offer any advice when it comes to choosing a Barnehurst conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Barnehurst conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Barnehurst conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How familiar is the firm with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Barnehurst with the aim of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Barnehurst can be avoided if you instruct lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ conveyancers.
- In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Barnehurst leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord acquiescing to such works. If you dont have the paperwork to hand do not communicate with the landlord without contacting your conveyancer in advance.
Following months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Barnehurst. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We are happy to put you in touch with a Barnehurst conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Barnehurst residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The remaining number of years on the lease was 76 years.