Top Five Questions relating to Belvedere leasehold conveyancing
I am in need of some leasehold conveyancing in Belvedere. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Belvedere - 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.
I only have Seventy years unexpired on my lease in Belvedere. I need to extend my lease but my landlord is can not be found. What options are available to me?
If you qualify, 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. You will be obliged to prove that you have made all reasonable attempts to track down the landlord. In some cases an enquiry agent should be helpful to carry out a search and to produce a report which can be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the application to the County Court overseeing Belvedere.
I have just appointed agents to market my basement apartment in Belvedere.Conveyancing has not commenced but I have just had a quarterly service charge demand – Do I pay up?
It best that you 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 unless 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.
Can you provide any top tips for leasehold conveyancing in Belvedere from the perspective of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Belvedere can be avoided where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the buyers conveyancers.
- The majority freeholders or managing agents in Belvedere levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought 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 frequent reason for frustration in leasehold conveyancing in Belvedere.
Following months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Belvedere. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We can put you in touch with a Belvedere conveyancing firm who can help.
An example of a Lease Extension case for a Belvedere 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 was in relation to 13 flats. The remaining number of years on the lease was 76 years.
Are there frequently found deficiencies that you encounter in leases for Belvedere properties?
There is nothing unique about leasehold conveyancing in Belvedere. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Coventry Building Society, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.