Common questions relating to Gants Hill leasehold conveyancing
I am on look out for some leasehold conveyancing in Gants Hill. Before I set the wheels in motion 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 Gants Hill - 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 want to rent out my leasehold flat in Gants Hill. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your last Gants Hill conveyancing lawyer is not available you can check your lease to check if you are permitted to let out the property. The accepted inference is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you need to obtain consent from your landlord or other appropriate person before subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. Such consent must not not be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.
I own a leasehold flat in Gants Hill. Conveyancing and Barclays Direct mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Gants Hill who previously acted has long since retired.Any advice?
First make enquiries of HMLR to make sure that this person is indeed the new freeholder. There is no need to incur the fees of a Gants Hill conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a couple of apartments in Gants Hill which have approximately forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold flat in Gants Hill is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the property. The majority of buyers and banks, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Gants Hill conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I've recently bought a leasehold flat in Gants Hill. Do I have any liability for service charges for periods before completion of my purchase?
In a situation 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).
I have had difficulty in negotiating a lease extension in Gants Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a Gants Hill conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Gants Hill flat is 59 & 59a Clarendon Gardens in February 2014. The Tribunals valuation for the freehold was £30,073.00 The remaining number of years on the lease was 65 and 61.