Frequently asked questions relating to Church End leasehold conveyancing
I am on look out for some leasehold conveyancing in Church End. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Church End - 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 72 years left on my flat in Church End. I now want to get lease extension but my landlord is absent. What options are available to me?
If you meet the appropriate requirements, 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 granted an extra 90 years by the magistrate. However, you will be required to prove that you have done all that could be expected to track down the landlord. In some cases a specialist should be useful to conduct investigations and to produce a report which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Church End.
Due to sign contracts shortly on a studio apartment in Church End. Conveyancing solicitors have said that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Church End should include some of the following:
- Are pets allowed in the flat?
I am looking at a two flats in Church End both have approximately forty five years left on the lease term. should I be concerned?
There are plenty of short leases in Church End. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the saleability of the lease reduces and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena
I own a second floor flat in Church End. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
Most certainly. We can put you in touch with a Church End conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Church End premises is Ground Floor 110 Station Road in June 2013. The Tribunal found that the premium payable for a lease extension should be £31,665. This case related to 1 flat. The the number of years remaining on the existing lease(s) was 56.65 years.
What makes a Church End lease defective?
Leasehold conveyancing in Church End is not unique. All leases are individual and drafting errors can result in certain provisions 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 building
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Leeds Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to pull out.