Sample questions relating to Forest Gate leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Forest Gate. Before I get started I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Forest Gate - 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.
I’m about to sell my ground floor apartment in Forest Gate.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge demand – what should I do?
It best that you pay 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 managing agents will not acknowledge the buyer unless 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. This will smooth the conveyancing process.
I today plan to offer on a house that appears to be perfect, at a great figure which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Forest Gate. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Forest Gate ?
Most houses in Forest Gate are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Forest Gate so you should seriously consider shopping around for a Forest Gate conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your solicitor should report to you on the legal implications.
Back In 2005, I bought a leasehold house in Forest Gate. Conveyancing and Virgin Money mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Forest Gate who previously acted has now retired.Any advice?
The first thing you should do is contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Forest Gate conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Having spent months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Forest Gate. Can we issue an application to the Residential Property Tribunal Service?
Where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to make a decision on the price payable.
An example of a Freehold Enfranchisement case for a Forest Gate property is 52 & 54 Green Street in February 2010. Following a vesting order by the County Court the Tribunal decided that the price that the Applicant for the freehold interest should pay is £20,543 This case affected 2 flats. The the number of years remaining on the existing lease(s) was 78 and 80.
What are the frequently found defects that you witness in leases for Forest Gate properties?
There is nothing unique about leasehold conveyancing in Forest Gate. All leases are unique and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:
- 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 can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Chelsea Building Society, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.
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