Frequently asked questions relating to Crystal Palace leasehold conveyancing
I only have 68 years unexpired on my flat in Crystal Palace. I need to extend my lease but my freeholder is absent. What options are available to me?
If you qualify, 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 magistrate. However, you will be required to demonstrate that you have done all that could be expected to locate the landlord. In some cases an enquiry agent may be helpful to try and locate and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Crystal Palace.
I am hoping to exchange soon on a leasehold property in Crystal Palace. Conveyancing lawyers have said that they report fully on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Crystal Palace should include some of the following:
- You should receive a copy of the lease
I have just appointed agents to market my 2 bed apartment in Crystal Palace.Conveyancing has not commenced but I have just received a quarterly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge 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 until 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. This will smooth the conveyancing process.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Crystal Palace. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Crystal Palace ?
Most houses in Crystal Palace are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Crystal Palace so you should seriously consider looking for a Crystal Palace conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should appraise you on the various issues.
We have reached the end of our tether in seeking a lease extension in Crystal Palace. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Crystal Palace conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Crystal Palace flat is Flat 1 4 Border Crescent in March 2012. the Tribunal decided that the sum payable by the Applicants to the Respondent in respect of the new lease for the subject property should be £11,616.00 (ElevenThousand and Six Hundred and Sixteen Pounds) This case was in relation to 1 flat. The the unexpired residue of the current lease was 72.04 years.
In relation to leasehold conveyancing in Crystal Palace what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Crystal Palace. Most leases is drafted differently and drafting errors can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the building
- A duty to insure the building
- 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 could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, The Royal Bank of Scotland, and Britannia all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.
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