Common questions relating to Beckenham leasehold conveyancing
I am hoping to complete next month on a studio apartment in Beckenham. Conveyancing lawyers inform me that they will have a report out to me on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Beckenham should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
I've found a house that seems to be perfect, at a reasonable price which is making it more attractive. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Beckenham. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
The majority of houses in Beckenham are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Beckenham so you should seriously consider shopping around for a Beckenham conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your conveyancer should report to you on the legal implications.
My wife and I purchased a leasehold flat in Beckenham. Conveyancing and TSB mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Beckenham who acted for me is not around.What should I do?
The first thing you should do is make enquiries of HMLR to make sure that this person is indeed the new freeholder. There is no need to incur the fees of a Beckenham conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I work for a long established estate agent office in Beckenham where we have experienced a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Beckenham conveyancing solicitors. Can you confirm whether the seller of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
What are your top tips when it comes to choosing a Beckenham conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Beckenham conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Beckenham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- Can they put you in touch with client in Beckenham who can give a testimonial?
Notwithstanding our best endeavours, we have been unsuccessful in negotiating a lease extension in Beckenham. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a Beckenham conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Beckenham residence is 26 Manor Road in July 2010. the Tribunal decided that price to be paid for the freehold was £12,420 This case was in relation to 2 flats. The the unexpired residue of the current lease was 76.75 and 88.83.
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