Becontree Heath leasehold conveyancing Example Support Desk Enquiries
I am on look out for some leasehold conveyancing in Becontree Heath. Before I get started I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Becontree Heath - 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.
Estate agents have just been given the go-ahead to market my ground floor flat in Becontree Heath.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear 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 managing agents 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. This will smooth the conveyancing process.
Back In 2003, I bought a leasehold flat in Becontree Heath. Conveyancing and Platform Home Loans Ltd mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Becontree Heath who previously acted has now retired.Do I pay?
First contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Becontree Heath conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a couple of apartments in Becontree Heath which have about 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Becontree Heath is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of buyers and lenders, leases with less than eighty 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 premises 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 a residence 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 Becontree Heath 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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 appointing a Becontree Heath conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Becontree Heath conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Becontree Heath conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- If they are not ALEP accredited then why not?
Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Becontree Heath. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Absolutely. We can put you in touch with a Becontree Heath conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Becontree Heath 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 the unexpired residue of the current lease was 61.36 years.