Recently asked questions relating to Elephant and Castle leasehold conveyancing
Having checked my lease I have discovered that there are only 62 years left on my flat in Elephant and Castle. I now want to get lease extension but my landlord is can not be found. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to track down the landlord. For most situations a specialist may be helpful to carry out a search and to produce an expert document which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court covering Elephant and Castle.
Looking forward to complete next month on a ground floor flat in Elephant and Castle. 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 Elephant and Castle should include some of the following:
- You should be sent a copy of the lease
My wife and I purchased a leasehold house in Elephant and Castle. Conveyancing and Coventry Building Society mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Elephant and Castle who acted for me is not around.Any advice?
First contact HMLR to be sure that this person is indeed the new freeholder. There is no need to instruct a Elephant and Castle conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a two apartments in Elephant and Castle which have about forty five years unexpired on the lease term. Will this present a problem?
There are plenty of short leases in Elephant and Castle. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the value of the lease reduces and it becomes more expensive to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena
Do you have any advice for leasehold conveyancing in Elephant and Castle with the aim of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Elephant and Castle can be bypassed where you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the purchasers’ lawyers.
- The majority landlords or Management Companies in Elephant and Castle levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Elephant and Castle.
We have reached the end of our tether in trying to purchase the freehold in Elephant and Castle. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to assess the price.
An example of a Lease Extension decision for a Elephant and Castle flat is Ground Floor Flat 39 Bronsart Road in May 2010. Following a vesting order by West London County Court the Leasehold Valuation Tribunal concluded that the price to be paid for the extended lease of the premises was Thirteen Thousand Two hundred pounds (£13,200) in accordance with the valuation. The extended lease was granted for a term of 90 years from the expiry date of the Lease and at a peppercorn ground rent from the date of the vesting order. This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 74.77 years.