Erith leasehold conveyancing Example Support Desk Enquiries
I am hoping to complete next month on a basement flat in Erith. Conveyancing solicitors inform me that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Erith should include some of the following:
- The physical extent of the demise. This will be the property itself but could also incorporate a roof space or cellar if appropriate.
I've found a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Erith. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Erith ?
Most houses in Erith are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Erith so you should seriously consider looking for a Erith conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to carry out changes to the property. 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 report to you on the legal implications.
Back In 2009, I bought a leasehold flat in Erith. Conveyancing and Virgin Money mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Erith who previously acted has long since retired.What should I do?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Erith conveyancing lawyer 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 the limitation period for recovery of ground rent is six years.
Can you provide any top tips for leasehold conveyancing in Erith from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Erith can be reduced where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information needed by the buyers solicitors.
- The majority landlords or Management Companies in Erith levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information 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 Erith.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Erith conveyancing firm to act on my behalf?
Most certainly. We can put you in touch with a Erith conveyancing firm who can help.
An example of a Lease Extension case for a Erith flat is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The the number of years remaining on the existing lease(s) was 76 years.
In relation to leasehold conveyancing in Erith what are the most common lease problems?
Leasehold conveyancing in Erith is not unique. All leases is drafted differently and drafting errors can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Chelsea Building Society, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.