Clapham leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Clapham. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
Assuming the lease is registered - and most are in Clapham - then the leasehold title will always include the basic details 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.
Having checked my lease I have discovered that there are only 68 years unexpired on my flat in Clapham. I need to get lease extension but my landlord is absent. 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 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. You will be obliged to demonstrate that you have used your best endeavours to find the landlord. For most situations an enquiry agent would be helpful to try and locate and to produce an expert document to be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the application to the County Court covering Clapham.
I am tempted by the attractive purchase price for a two flats in Clapham which have in the region of forty five years remaining on the lease term. Do I need to be concerned?
There are plenty of short leases in Clapham. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and it becomes more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena
I've recently bought a leasehold flat in Clapham. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation 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. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
Completion in due on the sale of our £250000 garden flat in Clapham next Tuesday . The freeholder has quoted £384 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 flat conveyance in Clapham?
Clapham conveyancing on leasehold maisonettes often necessitates the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to assist. They may invoice a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee demanded by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is technically not due. In reality you have no choice but to pay whatever is demanded should you wish to sell the property.
I am the proprietor of a first floor flat in Clapham. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?
Most definitely. We are happy to put you in touch with a Clapham conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Clapham residence is 23 Chelsham Road in May 2013. the Tribunal found that the sum of £13,870.00 was payable for the freehold following a vestig order having been granted by Swansea County Court dated 1st March 2013 This case was in relation to 3 flats. The the unexpired residue of the current lease was 99 years.