Recently asked questions relating to Coney Hall leasehold conveyancing
I am in need of some leasehold conveyancing in Coney Hall. Before diving in I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Coney Hall - 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 have recently realised that I have Sixty One years left on my lease in Coney Hall. I am keen to get lease extension but my landlord is absent. What should I do?
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 for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to demonstrate that you have done all that could be expected to find the freeholder. In some cases an enquiry agent may be useful to conduct investigations and prepare a report to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Coney Hall.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Coney Hall. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
Most houses in Coney Hall are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Coney Hall so you should seriously consider shopping around for a Coney Hall conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will advise you fully on all the issues.
I am tempted by the attractive purchase price for a two flats in Coney Hall which have in the region of forty five years left on the lease term. Will this present a problem?
There are plenty of short leases in Coney Hall. The lease is a right to use the property for a period of time. As the lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field
Do you have any top tips for leasehold conveyancing in Coney Hall from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Coney Hall can be bypassed if you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the buyers representatives.
- In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Coney Hall state that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. Should you fail to have the consents in place do not contact the landlord without checking with your lawyer in advance.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Coney Hall conveyancing firm to represent me?
Where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to decide the price.
An example of a Lease Extension decision for a Coney Hall residence is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case related to 1 flat. The unexpired lease term was 50.57 years.