Top Five Questions relating to Greenford leasehold conveyancing
I've found a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Greenford. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Greenford ?
The majority of houses in Greenford are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Greenford so you should seriously consider shopping around for a Greenford conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your conveyancer will advise you fully on all the issues.
Back In 2002, I bought a leasehold house in Greenford. Conveyancing and Accord Mortgages Ltd mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Greenford who previously acted has long since retired.Any advice?
The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Greenford conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am a negotiator for a long established estate agency in Greenford where we have witnessed a few leasehold sales put at risk due to short leases. I have received conflicting advice from local Greenford conveyancing solicitors. Can you clarify whether the seller of a flat can initiate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible 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 purchaser.
All being well we will complete the disposal of our £350000 flat in Greenford next week. The landlords agents has quoted £300 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Greenford?
Greenford conveyancing on leasehold maisonettes usually necessitates the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to assist. They are entitled levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee required by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, without which the charge is not strictly payable. In reality one has no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I am the registered owner of a ground floor flat in Greenford. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a Greenford conveyancing firm who can help.
An example of a lease Extension decision for a Greenford property is 25 Beechwood Avenue in November 2012. the Tribunal accordingly determined that the premium for the lease extension should be £24,353. This case affected 1 flat. The the unexpired term as at the valuation date was 58.19 years.
What makes a Greenford lease problematic?
Leasehold conveyancing in Greenford is not unique. Most leases are unique and drafting errors can result in certain provisions are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the building
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Leeds Building Society, and Britannia all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.