Common questions relating to Colney Hatch leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Colney Hatch. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Colney Hatch - 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.
I’m about to sell my basement flat in Colney Hatch.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge invoice – Do I pay up?
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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.
I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Colney Hatch. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Colney Hatch ?
Most houses in Colney Hatch are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Colney Hatch in which case you should be shopping around for a Colney Hatch conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor will advise you fully on all the issues.
My wife and I purchased a leasehold flat in Colney Hatch. Conveyancing and Yorkshire Building Society mortgage organised. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Colney Hatch who acted for me is not around.Do I pay?
First contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Colney Hatch conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, 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 looking at a two flats in Colney Hatch which have approximately 50 years left on the leases. Do I need to be concerned?
A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Colney Hatch conveyancing firm to help?
Most definitely. We are happy to put you in touch with a Colney Hatch conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Colney Hatch property is 90 & 96 Poplar Grove in June 2013. It was held by the Tribunal that the premium to be paid for the new lease in respect of each of the flats referred should be £17,942 This case was in relation to 2 flats. The unexpired lease term was 68 years.