Top Five Questions relating to Goodmayes leasehold conveyancing
I am on look out for some leasehold conveyancing in Goodmayes. Before diving in I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and 99.9% are in Goodmayes - 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.
I today plan to offer on a house that seems to be perfect, at a great figure which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Goodmayes. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Goodmayes ?
The majority of houses in Goodmayes are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Goodmayes so you should seriously consider shopping around for a Goodmayes conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should advise you fully on all the issues.
I own a leasehold house in Goodmayes. Conveyancing and Santander mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Goodmayes who acted for me is not around.Any advice?
First contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Goodmayes conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I work for a long established estate agent office in Goodmayes where we have experienced a few flat sales derailed due to short leases. I have received conflicting advice from local Goodmayes conveyancing solicitors. Can you shed some light as to whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Do you have any advice for leasehold conveyancing in Goodmayes with the purpose of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Goodmayes can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the buyers solicitors.
- The majority freeholders or Management Companies in Goodmayes levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Goodmayes.
Having spent months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Goodmayes. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We are happy to put you in touch with a Goodmayes conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Goodmayes residence is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The unexpired term was 61.36 years.