Eel Pie Island leasehold conveyancing: Q and A’s
Expecting to sign contracts shortly on a garden flat in Eel Pie Island. Conveyancing solicitors have said that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Eel Pie Island should include some of the following:
- You should receive a copy of the lease
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Eel Pie Island. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
Most houses in Eel Pie Island are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Eel Pie Island so you should seriously consider looking for a Eel Pie Island conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being 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 landlord’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your solicitor should appraise you on the various issues.
What advice can you give us when it comes to finding a Eel Pie Island conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Eel Pie Island conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Eel Pie Island conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How many lease extensions has the firm carried out in Eel Pie Island in the last twenty four months?
Completion in due on the disposal of our £125000 flat in Eel Pie Island in just under a week. The managing agents has quoted £420 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Eel Pie Island?
For the majority of leasehold sales in Eel Pie Island conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Eel Pie Island
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I own a first floor flat in Eel Pie Island. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
in cases where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the LVT to make a decision on the price payable.
An example of a Lease Extension decision for a Eel Pie Island residence is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case related to 1 flat. The remaining number of years on the lease was 60.45 years.
In relation to leasehold conveyancing in Eel Pie Island what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Eel Pie Island. Most leases is drafted differently and legal mistakes in the legal wording can result in certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the building
- Insurance obligations
- 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
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Bank of Scotland, and Nottingham Building Society all have very detailed 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, obliging the purchaser to pull out.