Examples of recent questions relating to leasehold conveyancing in Burnt Oak
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Burnt Oak. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Burnt Oak ?
Most houses in Burnt Oak are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Burnt Oak so you should seriously consider shopping around for a Burnt Oak conveyancing practitioner and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor will report to you on the legal implications.
Back In 2001, I bought a leasehold house in Burnt Oak. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Burnt Oak who acted for me is not around.Any advice?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Burnt Oak conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I work for a reputable estate agency in Burnt Oak where we have experienced a number of leasehold sales derailed due to short leases. I have received conflicting advice from local Burnt Oak conveyancing solicitors. Could you clarify whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
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.
Can you provide any advice for leasehold conveyancing in Burnt Oak from the perspective of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Burnt Oak can be avoided where you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the buyers representatives.
- In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Burnt Oak leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord consenting to such changes. Where you fail to have the approvals in place you should not communicate with the landlord without checking with your conveyancer before hand.
After years of negotiations we are unable to 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?
Where there is a missing freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to assess the price.
An example of a Lease Extension case for a Burnt Oak residence 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 related to 1 flat. The the number of years remaining on the existing lease(s) was 71.55 years.
What are the frequently found problems that you encounter in leases for Burnt Oak properties?
Leasehold conveyancing in Burnt Oak is not unique. All leases are individual and drafting errors can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the premises
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Skipton Building Society, and Britannia all have very detailed requirements 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 grant the mortgage, obliging the buyer to pull out.