Common questions relating to Forest Gate leasehold conveyancing
I am in need of some leasehold conveyancing in Forest Gate. Before diving in I would like to find out the unexpired term of the lease.
If the lease is registered - 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.
Having checked my lease I have discovered that there are only Seventy years left on my flat in Forest Gate. I now wish to extend my lease but my freeholder is absent. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have done all that could be expected to track down the landlord. For most situations an enquiry agent should be helpful to conduct investigations and prepare an expert document to be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the application to the County Court overseeing Forest Gate.
I am tempted by the attractive purchase price for a couple of maisonettes in Forest Gate both have approximately 50 years left on the leases. Will this present a problem?
A lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the saleability of the lease deteriorate and it becomes more expensive to acquire a lease extension. This is why 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 may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena
Last month I purchased a leasehold house in Forest Gate. 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. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
Can you offer any advice when it comes to appointing a Forest Gate conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Forest Gate conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Forest Gate conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:
- If they are not ALEP accredited then what is the reason?
I am the proprietor of a two-bedroom flat in Forest Gate. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for a lease extension?
Most definitely. We can put you in touch with a Forest Gate conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Forest Gate premises 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 unexpired residue of the current lease was 78 and 80.