Frequently asked questions relating to Charlton leasehold conveyancing
I am on look out for some leasehold conveyancing in Charlton. Before I get started I want to be sure as to the remaining lease term.
If the lease is registered - and 99.9% are in Charlton - 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 68 years remaining on my flat in Charlton. I am keen to extend my lease but my freeholder is missing. What options are available to me?
On the basis that you qualify, 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 mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to locate the landlord. In some cases an enquiry agent would be useful to conduct investigations and to produce an expert document to be used as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court covering Charlton.
Planning to sign contracts shortly on a leasehold property in Charlton. Conveyancing lawyers have said that they are sending me a report on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Charlton should include some of the following:
- Ground rent - how much and when you need to pay, and also know whether this is subject to change
I am tempted by the attractive purchase price for a couple of maisonettes in Charlton both have in the region of 50 years unexpired on the lease term. Do I need to be concerned?
There are plenty of short leases in Charlton. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the value of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £400000 maisonette in Charlton on Tuesday in a week. The freeholder has quoted £348 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Charlton?
For the majority of leasehold sales in Charlton conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-contract questions
- Where consent is required before sale in Charlton
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Having spent years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Charlton. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most certainly. We can put you in touch with a Charlton conveyancing firm who can help.
An example of a Lease Extension decision for a Charlton flat is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case affected 2 flats. The the unexpired residue of the current lease was 72 years.