Recently asked questions relating to Fulham leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Fulham. Before I get started I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and 99.9% are in Fulham - 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.
Looking forward to exchange soon on a garden flat in Fulham. Conveyancing solicitors assured me that they report fully next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Fulham should include some of the following:
- You should be sent a copy of the lease
My wife and I purchased a leasehold house in Fulham. Conveyancing and Britannia mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Fulham who previously acted has now retired.Any advice?
The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Fulham conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a two maisonettes in Fulham both have approximately forty five years remaining on the leases. Do I need to be concerned?
A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this area
I've recently bought a leasehold flat in Fulham. Am I liable to pay service charges relating to a period prior to completion of my purchase?
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. It is an essential part 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).
I have given up negotiating a lease extension in Fulham. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a Fulham conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Fulham property is 66 and 66a Wardo Avenue in November 2012. The Tribunal determined that the sum of £8,048 is payable by the Applicants in respect of the price for the freehold of the property This case was in relation to 2 flats. The the unexpired term as at the valuation date was 93 years and 162 years.
Other Topics