Burroughs, The leasehold conveyancing: Q and A’s
I am hoping to complete next month on a garden flat in Burroughs, The. Conveyancing solicitors have said that they report fully tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Burroughs, The should include some of the following:
- Defining your legal entitlements in relation to the communal areas in the block.For example, does the lease grant a right of way over a path or staircase?
I have just started marketing my basement apartment in Burroughs, The.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge 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 management companies 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. This will smooth the conveyancing process.
I've found a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Burroughs, The. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
Most houses in Burroughs, The are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Burroughs, The in which case you should be looking for a Burroughs, The conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As 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’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should report to you on the legal implications.
My wife and I purchased a leasehold flat in Burroughs, The. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Burroughs, The who acted for me is not around.What should I do?
First make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Burroughs, The conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a couple of flats in Burroughs, The which have approximately 50 years left on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a period of time. As the lease gets shorter the saleability of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena
My wife and I have hit a brick wall in trying to purchase the freehold in Burroughs, The. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We can put you in touch with a Burroughs, The conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Burroughs, The premises 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 affected 2 flats. The the unexpired term as at the valuation date was 71.5 years.