Recently asked questions relating to Belvedere leasehold conveyancing
I am on look out for some leasehold conveyancing in Belvedere. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Belvedere - 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.
Having checked my lease I have discovered that there are only 68 years unexpired on my lease in Belvedere. I now want to extend my lease but my landlord is absent. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the freeholder. On the whole a specialist may be useful to carry out a search and prepare an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court covering Belvedere.
I today plan to offer on a house that appears to meet my requirements, at a great price which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Belvedere. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Belvedere ?
Most houses in Belvedere are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Belvedere so you should seriously consider looking for a Belvedere conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.
I am attracted to a two maisonettes in Belvedere which have about forty five years left on the lease term. Do I need to be concerned?
A lease is a right to use the property for a period of time. As a lease shortens the value of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena
I've recently bought a leasehold house in Belvedere. Do I have any liability for service charges for periods before my ownership?
In a situation 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. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).
Having spent years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Belvedere. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing landlord or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to judgment on the sum to be paid.
An example of a Lease Extension decision for a Belvedere premises 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.
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