Frequently asked questions relating to Eastcote leasehold conveyancing
I only have 68 years remaining on my lease in Eastcote. I now wish to extend my lease but my landlord is missing. What are my options?
On the basis that 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 Court. However, you will be required to prove that you or your lawyers have done all that could be expected to find the freeholder. For most situations a specialist would be helpful to carry out a search and prepare 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 solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Eastcote.
I've found a house that seems to be perfect, at a great figure which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Eastcote. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
Most houses in Eastcote are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Eastcote in which case you should be shopping around for a Eastcote conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will report to you on the legal implications.
I own a leasehold flat in Eastcote. Conveyancing and HSBC Bank mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Eastcote who previously acted has long since retired.What should I do?
First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Eastcote conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold flat in Eastcote. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee 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. A critical element 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 top tips for leasehold conveyancing in Eastcote with the intention of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Eastcote can be avoided if you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers.
- Many freeholders or Management Companies in Eastcote charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Eastcote.
I own a basement flat in Eastcote. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
Most definitely. We are happy to put you in touch with a Eastcote conveyancing firm who can help.
An example of a Lease Extension case for a Eastcote flat is Flat 72 Queens Walk in January 2013. The Tribunals calculated the premium payable to be £22,090. This case was in relation to 1 flat. The unexpired lease term was 53.26 years.