Top Five Questions relating to Chadwell Heath leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Chadwell Heath. Before diving in I would like to find out the remaining lease term.
If the lease is registered - and 99.9% are in Chadwell Heath - 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.
I only have 62 years remaining on my flat in Chadwell Heath. I need to get lease extension but my freeholder is absent. 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 extended by the Court. However, you will be required to prove that you have made all reasonable attempts to find the freeholder. For most situations an enquiry agent should be useful to try and locate and prepare a report to be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s absence and the application to the County Court covering Chadwell Heath.
Looking forward to complete next month on a basement flat in Chadwell Heath. Conveyancing lawyers inform me that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Chadwell Heath should include some of the following:
- You should be sent a copy of the lease
I’m about to sell my garden apartment in Chadwell Heath.Conveyancing is yet to be initiated but I have just had a half-yearly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should 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 managing agents 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.
My wife and I have hit a brick wall in negotiating a lease extension in Chadwell Heath. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We are happy to put you in touch with a Chadwell Heath conveyancing firm who can help.
An example of a Lease Extension case for a Chadwell Heath property is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case affected 1 flat. The unexpired term was 61.36 years.
What makes a Chadwell Heath lease unmortgageable?
There is nothing unique about leasehold conveyancing in Chadwell Heath. Most leases are individual and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements 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 issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Barnsley Building Society, and Clydesdale all have express requirements 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 provide security, forcing the buyer to withdraw.