Leasehold Conveyancing in Barnes Cray - Get a Quote from the leasehold experts approved by your lender

Get a Quote

Need to find a solicitor for leasehold conveyancing in Barnes Cray on your lender’s panel? Use our search tool to find approved local Barnes Cray conveyancing practitioners or national solicitors on your lender’s panel .

Barnes Cray leasehold conveyancing Example Support Desk Enquiries

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 just found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Barnes Cray. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Barnes Cray ?

Most houses in Barnes Cray are freehold and not 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 Barnes Cray in which case you should be shopping around for a Barnes Cray conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your lawyer will appraise you on the various issues.

My wife and I purchased a leasehold house in Barnes Cray. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Barnes Cray who previously acted has long since retired.Do I pay?

First make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. There is no need to incur the fees of a Barnes Cray conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of apartments in Barnes Cray which have about 50 years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Barnes Cray. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field

Last month I purchased a leasehold house in Barnes Cray. Do I have any liability for service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner 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. A critical element 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 Barnes Cray with the aim of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Barnes Cray can be bypassed if you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
  • Many freeholders or Management Companies in Barnes Cray charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Barnes Cray.
  • Some Barnes Cray leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Obtaining a duplicate share certificate is often a lengthy formality and delays many a Barnes Cray home move. Where a new share certificate is needed, do contact the company officers or managing agents (where applicable) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but it would be advisable verify this via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • After years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Barnes Cray. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Where there is a missing freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to calculate the amount due.

    An example of a Lease Extension case for a Barnes Cray 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 unexpired term was 76 years.