Sample questions relating to Cranham leasehold conveyancing
I am on look out for some leasehold conveyancing in Cranham. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in Cranham - 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've recently bought a leasehold flat in Cranham. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner 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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).
Can you provide any advice for leasehold conveyancing in Cranham with the aim of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Cranham can be reduced where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives.
- If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Cranham state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Should you dont have the consents to hand you should not contact the landlord without contacting your lawyer in the first instance.
Completion in due on the sale of our £400000 maisonette in Cranham next Thursday . The landlords agents has quoted £324 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Cranham?
Cranham conveyancing on leasehold maisonettes usually necessitates administration charges raised by freeholders :
- Completing pre-contract enquiries
- Where consent is required before sale in Cranham
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
We have reached the end of our tether in trying to purchase the freehold in Cranham. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We are happy to put you in touch with a Cranham conveyancing firm who can help.
An example of a Lease Extension decision for a Cranham premises is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The unexpired term was 57.5 years.
What makes a Cranham lease defective?
There is nothing unique about leasehold conveyancing in Cranham. All leases are unique 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 property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Norwich and Peterborough Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.