Recently asked questions relating to Denmark Hill leasehold conveyancing
I am in need of some leasehold conveyancing in Denmark Hill. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and most are in Denmark Hill - 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 have just appointed agents to market my 2 bed flat in Denmark Hill.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge invoice – what should I do?
The sensible thing to do is pay 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 today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Denmark Hill. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Denmark Hill ?
The majority of houses in Denmark Hill are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Denmark Hill in which case you should be looking for a Denmark Hill conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your lawyer should appraise you on the various issues.
I own a leasehold flat in Denmark Hill. Conveyancing and Bank of Ireland mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Denmark Hill who previously acted has long since retired.Do I pay?
First make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to instruct a Denmark Hill conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, 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 employed by a reputable estate agent office in Denmark Hill where we have witnessed a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Denmark Hill conveyancing firms. Please can you clarify whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I have had difficulty in trying to purchase the freehold in Denmark Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to assess the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Denmark Hill premises is 66 Southwell Road in March 2012. By Order of Deputy District Judge Stone dated 25 January 2012 a vesting order was made. The determination of the purchase price was referred to the Tribunal who decided that the amount payable for the freehold should be£29,612.00 This case related to 3 flats. The remaining number of years on the lease was 72.58 years.