Guaranteed fixed fees for Leasehold Conveyancing in Catford

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Examples of recent questions relating to leasehold conveyancing in Catford

There are only 68 years remaining on my lease in Catford. I need to extend my lease but my freeholder is can not be found. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to track down the landlord. On the whole an enquiry agent may be helpful to conduct investigations and prepare a report which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Catford.

I have just appointed agents to market my ground floor apartment in Catford.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge demand – what should I do?

It best that you pay the invoice 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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.

Back In 2003, I bought a leasehold house in Catford. Conveyancing and Yorkshire Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Catford who previously acted has long since retired.What should I do?

The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Catford conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two maisonettes in Catford both have approximately fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Catford. The lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the value of the lease reduces and results in it becoming more costly to extend the lease. This is why it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this area

Can you provide any top tips for leasehold conveyancing in Catford with the purpose of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Catford can be avoided where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the buyers representatives.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Catford state that internal structural alterations or installing wooden flooring require a licence issued by the Landlord approving such works. Should you dont have the approvals to hand you should not contact the landlord without contacting your solicitor in advance.
  • Some Catford leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the annual 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. 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 particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as historic rather than unsettled.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Despite our best endeavours, we have been unsuccessful in seeking a lease extension in Catford. Can this matter be resolved via the Leasehold Valuation Tribunal?

    if there is a missing freeholder or if 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 judgment on the sum to be paid.

    An example of a Freehold Enfranchisement decision for a Catford property is 44 Elmer Road in January 2013. The Tribunal dacied that amount to be paid by the Leaseholders for the Landlords freehold reversion was £12,951 as at the valuation date (20" September 2012).This matter was referred back to the Bromley County Court to deal with costs, fees and any other outstanding matters. This case was in relation to 2 flats. The remaining number of years on the lease was 74.25 years.

    Other Topics

    Lease Extensions in Catford