Common questions relating to Burnt Oak leasehold conveyancing
I am in need of some leasehold conveyancing in Burnt Oak. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Burnt Oak - 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.
Can you offer any advice when it comes to appointing a Burnt Oak conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Burnt Oak conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Burnt Oak conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How experienced is the firm with lease extension legislation?
Can you provide any advice for leasehold conveyancing in Burnt Oak with the aim of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Burnt Oak can be bypassed if you instruct lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ lawyers.
- If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you laid down wooden flooring? Burnt Oak leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord approving such alterations. Where you fail to have the consents to hand you should not contact the landlord without contacting your solicitor in advance.
All being well we will complete the sale of our £250000 garden flat in Burnt Oak next week. The management company has quoted £420 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Burnt Oak?
For most leasehold sales in Burnt Oak conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing conveyancing due diligence questions
- Where consent is required before sale in Burnt Oak
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Following months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Burnt Oak. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to decide the price.
An example of a Lease Extension matter before the tribunal for a Burnt Oak premises is 20 Orchard Court Stonegrove in June 2009. The tribunal decided that a premium of £11,040 should be payable for the new lease This case was in relation to 1 flat. The unexpired lease term was 71.55 years.
Are there common deficiencies that you encounter in leases for Burnt Oak properties?
Leasehold conveyancing in Burnt Oak is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the premises
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Norwich and Peterborough Building Society, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to pull out.
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