Frequently asked questions relating to Carshalton leasehold conveyancing
I am on look out for some leasehold conveyancing in Carshalton. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Carshalton - 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 72 years unexpired on my flat in Carshalton. I am keen to get lease extension but my landlord is can not be found. What should I do?
On the basis that you qualify, 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 granted an extra 90 years by the Court. You will be obliged to prove that you have used your best endeavours to track down the landlord. On the whole an enquiry agent would be helpful to try and locate and prepare an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Carshalton.
Looking forward to complete next month on a leasehold property in Carshalton. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Carshalton should include some of the following:
- Do you need to have carpet in the flat or are you allowed wood flooring?
I've found a house that appears to be perfect, at a reasonable 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 issues purchasing a leasehold house in Carshalton. Conveyancing solicitors have not yet been appointed. Will they explain the issues?
The majority of houses in Carshalton are freehold rather than leasehold. In this scenario it’s worth 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 Carshalton so you should seriously consider looking for a Carshalton conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will appraise you on the various issues.
I am the leaseholder of a first floor flat in Carshalton. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium due for a lease extension?
if there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to make a decision on the premium.
An example of a Freehold Enfranchisement case for a Carshalton flat is 21 & 23 Carshalton Grove in May 2009. the Tribunal adopted the figures presented as the premiums payable by the Applicant i.e. a total of £20,750. This case was in relation to 2 flats. The unexpired term was 72 years.
In relation to leasehold conveyancing in Carshalton what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Carshalton. All leases is drafted differently and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the property
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Mortgage Works, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to pull out.