Fixed-fee leasehold conveyancing in Burroughs, The:

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Common questions relating to Burroughs, The leasehold conveyancing

I am on look out for some leasehold conveyancing in Burroughs, The. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

Assuming the lease is registered - and most are in Burroughs, The - 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.

My wife and I purchased a leasehold flat in Burroughs, The. Conveyancing and Accord Mortgages Ltd mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Burroughs, The who previously acted has long since retired.Any advice?

The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Burroughs, The conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold flat in Burroughs, The. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, 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 be sure 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).

Do you have any advice for leasehold conveyancing in Burroughs, The with the intention of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Burroughs, The can be avoided where you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers lawyers.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Burroughs, The leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord approving such works. If you fail to have the paperwork in place do not contact the landlord without checking with your lawyer in the first instance.
  • A minority of Burroughs, The leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic rather than unsettled.
  • If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Obtaining a re-issued share certificate is often a time consuming formality and delays many a Burroughs, The home move. If a duplicate share certificate is required, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.

    • I inherited a ground-floor 1960’s flat in Burroughs, The. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?

    Where there is a absentee freeholder or where there is disagreement 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 calculate the amount due.

    An example of a Freehold Enfranchisement case for a Burroughs, The property is 1 & 1A Sunningfields Crescent in September 2013. The Tribunals calculation of the amount to be paid into court in respect of the value of the freehold interest is £11,997 in respect of Flat 1 and £15,781 in respect of Flat 1A for a total of £27,778. This case was in relation to 2 flats. The the unexpired residue of the current lease was 71.5 years.

    What makes a Burroughs, The lease problematic?

    Leasehold conveyancing in Burroughs, The is not unique. Most leases are unique and drafting errors can result in certain sections are wrong. 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
    • 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 as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Norwich and Peterborough Building Society, and Barclays Direct 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 is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.