Leasehold Conveyancing in Emerson Park - Get a Quote from the leasehold experts approved by your lender

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While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Emerson Park, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Emerson Park leasehold conveyancing

I am on look out for some leasehold conveyancing in Emerson Park. Before I get started I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Emerson Park - 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.

Back In 2003, I bought a leasehold house in Emerson Park. Conveyancing and Chelsea Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Emerson Park who acted for me is not around.Any advice?

First make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Emerson Park conveyancing lawyer to do this as it can be done on-line for less than a fiver. 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 attracted to a couple of apartments in Emerson Park which have approximately forty five years remaining on the lease term. Will this present a problem?

A lease is a right to use the property for a prescribed time frame. As the lease shortens the marketability of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this field

I've recently bought a leasehold property in Emerson Park. Am I liable to pay 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

Do you have any advice for leasehold conveyancing in Emerson Park with the aim of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Emerson Park can be reduced where you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ representatives.
  • The majority freeholders or managing agents in Emerson Park charge for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Emerson Park.
  • If you have had conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unsettled.
  • If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Obtaining a re-issued share certificate can be a time consuming process and frustrates many a Emerson Park conveyancing transaction. If a new share certificate is necessary, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your solicitors. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Following months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Emerson Park. Can we issue an application to the Residential Property Tribunal Service?

    in cases where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to determine the sum to be paid.

    An example of a Lease Extension decision for a Emerson Park residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 57.5 years.

    Other Topics

    Lease Extensions in Emerson Park