Chadwell Heath leasehold conveyancing Example Support Desk Enquiries
Having checked my lease I have discovered that there are only 62 years remaining on my flat in Chadwell Heath. I need to extend my lease but my freeholder is can not be found. What options are available to me?
On the basis that 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 an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to find the lessor. For most situations a specialist would be useful to carry out a search and prepare a report which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court covering Chadwell Heath.
I am looking at a couple of flats in Chadwell Heath which have approximately fifty years left on the lease term. Do I need to be concerned?
A lease is a right to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field
Last month I purchased a leasehold flat in Chadwell Heath. Am I liable to pay service charges relating to a period prior to completion of my purchase?
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. Strange as it may seem, 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).
What are your top tips when it comes to appointing a Chadwell Heath conveyancing practice to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Chadwell Heath conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Chadwell Heath conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- If the firm is not ALEP accredited then why not?
Do you have any top tips for leasehold conveyancing in Chadwell Heath with the purpose of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Chadwell Heath can be reduced where you instruct lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ solicitors.
- The majority landlords or Management Companies in Chadwell Heath levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Chadwell Heath.
My wife and I have hit a brick wall in trying to purchase the freehold in Chadwell Heath. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if 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 it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the price.
An example of a Lease Extension case for a Chadwell Heath residence 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 the unexpired term as at the valuation date was 61.36 years.