Leasehold Conveyancing in Foots Cray - Get a Quote from the leasehold experts approved by your lender

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Frequently asked questions relating to Foots Cray leasehold conveyancing

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

Assuming the lease is registered - and 99.9% are in Foots Cray - then the leasehold title will always include the short particulars 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.

Expecting to complete next month on a leasehold property in Foots Cray. Conveyancing lawyers inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Foots Cray should include some of the following:

  • You should be sent a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • You should have a good understanding of the insurance provisions
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames
  • What you can do if a neighbour breach a clause of their lease? For a comprehensive list of information to be included in your report on your leasehold property in Foots Cray please ask your conveyancer in advance of your conveyancing in Foots Cray

    • Estate agents have just been given the go-ahead to market my 2 bed apartment in Foots Cray.Conveyancing is yet to be initiated but I have just received a yearly service charge invoice – what should I do?

    It best that you clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

    I am tempted by the attractive purchase price for a two apartments in Foots Cray which have in the region of forty five years left on the lease term. Will this present a problem?

    There are plenty of short leases in Foots Cray. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area

    What advice can you give us when it comes to appointing a Foots Cray conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a conveyancer for lease extension works (regardless if they are a Foots Cray conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Foots Cray conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

    • How familiar is the practice with lease extension legislation?
  • What are the legal fees for lease extension conveyancing?

    • I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Foots Cray conveyancing firm to assist?

    in cases where there is a missing landlord 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 Leasehold Valuation Tribunal to decide the sum to be paid.

    An example of a Lease Extension decision for a Foots Cray flat is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.