Common questions relating to Chalk Farm leasehold conveyancing
Having checked my lease I have discovered that there are only Seventy years remaining on my flat in Chalk Farm. I now wish to get lease extension but my landlord is missing. 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 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. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to locate the lessor. For most situations an enquiry agent would be helpful to carry out a search and prepare a report which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Chalk Farm.
I’m about to sell my 2 bed apartment in Chalk Farm.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge demand – should I leave it to the buyer to sort out?
It best that you discharge 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 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 purchased a leasehold flat in Chalk Farm. Conveyancing and Bank of Ireland mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Chalk Farm who previously acted has long since retired.Any advice?
First contact HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Chalk Farm conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am tempted by the attractive purchase price for a couple of maisonettes in Chalk Farm both have approximately 50 years remaining on the lease term. should I be concerned?
There are plenty of short leases in Chalk Farm. The lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena
Can you offer any advice when it comes to finding a Chalk Farm conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Chalk Farm conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Chalk Farm conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- If the firm is not ALEP accredited then why not?
I am the proprietor of a first flat in Chalk Farm. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?
if there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to arrive at the price.
An example of a Lease Extension matter before the tribunal for a Chalk Farm premises is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case was in relation to 1 flat. The unexpired lease term was 64.77 years.